- Prior month 4.24M annualized gross sales tempo revised to 4.29M
- Current residence gross sales for January 2025 4.08M vs estimates of 4.12M.
- Current residence gross sales -4.9%
- Dwelling provide 3.5 months versus 3.3 months final month
Different detals from the NAR Realtors confirmed:
- The median existing-home gross sales worth superior 4.8% from January 2024 to $396,900, the nineteenth consecutive month of year-over-year worth will increase.
- Money gross sales 29% vs 32% final yr
- First-time consumers have been answerable for 28% of gross sales in January, down from 31% in December 2024 and an identical to January 2024.
- Particular person buyers or second-home consumers, who make up many money gross sales, bought 17% of houses in January, up from 16% in December and unchanged from January 2024.
- In line with Freddie Mac, the 30-year fixed-rate mortgage averaged 6.85% as of February 20. That is down from 6.87% one week in the past and 6.90% one yr in the past.
Wanting on the regional breakdown:
- Northeast: Gross sales down 5.7% MoM to 500K; up 4.2% YoY. Median worth: $475,400 (+9.5% YoY).
- Midwest: Gross sales flat MoM at 1M; up 5.3% YoY. Median worth: $290,400 (+7.2% YoY).
- South: Gross sales down 6.2% MoM to 1.83M; unchanged YoY. Median worth: $356,300 (+3.5% YoY).
- West: Gross sales down 7.4% MoM to 750K; up 1.4% YoY. Median worth: $614,200 (+7.4% YoY)
This text was written by Greg Michalowski at www.forexlive.com.
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