Home prices kept climbing even as existing home sales tanked last month
https://finance.yahoo.com/news/home-prices-kept-climbing-even-as-existing-home-sales-tanked-last-month-150116659.html
Home sales fell to a 13-year low in October as prices rose
https://www.cnbc.com/2023/11/21/home-sales-fell-to-a-13-year-low-in-october-as-prices-rose.html
Tight supply kept pressure under prices. The median price of an existing home sold in October was $391,800, an increase of 3.4% from a year ago ($378,800). Prices rose in all regions of the country. These annual price increases have been getting larger for four straight months. Roughly 28% of homes sold above list price. …
Sales fell in all price categories up to $750,000, but there was an increase in sales of higher end homes. Homes priced above $1 million were up just over 9% from a year ago. Wealthier buyers either tend not to use mortgages or are less sensitive to monthly rate changes. Yun also noted that there are more homes available for sale on the higher end of the market.
Home Sales Fell to a New 13-Year Low in October
https://www.wsj.com/economy/housing/october-2023-home-sales-fall-ec6b3164
https://finance.yahoo.com/news/home-prices-kept-climbing-even-as-existing-home-sales-tanked-last-month-150116659.html
https://www.cnbc.com/2023/11/21/home-sales-fell-to-a-13-year-low-in-october-as-prices-rose.html
Tight supply kept pressure under prices. The median price of an existing home sold in October was $391,800, an increase of 3.4% from a year ago ($378,800). Prices rose in all regions of the country. These annual price increases have been getting larger for four straight months. Roughly 28% of homes sold above list price. …
Sales fell in all price categories up to $750,000, but there was an increase in sales of higher end homes. Homes priced above $1 million were up just over 9% from a year ago. Wealthier buyers either tend not to use mortgages or are less sensitive to monthly rate changes. Yun also noted that there are more homes available for sale on the higher end of the market.
Home Sales Fell to a New 13-Year Low in October
https://www.wsj.com/economy/housing/october-2023-home-sales-fall-ec6b3164
Related:
Why house prices have risen once again
https://www.economist.com/finance-and-economics/2023/11/21/why-house-prices-have-risen-once-again
Across the rich world, they have brushed off higher rates. Can that last?
https://www.economist.com/finance-and-economics/2023/11/21/why-house-prices-have-risen-once-again
Across the rich world, they have brushed off higher rates. Can that last?