https://notthebee.com/article/home-pric ... n=06242024
Sales of previously owned homes are sitting at a 30-year low and didn't move much in May as prices hit a new record and mortgage rates remain high.
So-called existing home sales in May were essentially flat, down 0.7% from April to a seasonally adjusted, annualized rate of 4.11 million units, according to the National Association of Realtors, or NAR. Sales fell 2.8% from May of last year ...
The median price of an existing home sold in May was $419,300, a record-high price in the Realtors' recording and up 5.8% year over year. The gain was the strongest since October 2022. Prices gained in all regions.
The Realtors noted in a release that the mortgage payment for a typical home today is more than double what it was five years ago.
Yea that economy is going great!
statistics: Posted by Rebcop — 4:21 AM - Today — Replies 0 — Views 12