In January, the U.S. housing market exhibited mixed signals, with a slight uptick in previously occupied home sales, though they remained at near 30-year lows, marking the fewest sales in nearly 30 years. The market is still adjusting from the impacts of COVID-19, with Nevada's housing market feeling significant effects, including home prices remaining approximately $100,000 above 2020 levels. New home sales were relatively flat compared to December, with notable regional variations such as a surge in the West and a decline in the South, attributed to weather conditions. The overall sales of new homes fell short of expectations, possibly due to cold weather, yet a persistent shortage of previously owned homes supports new construction demand. The current housing landscape presents challenges for buyers, including historically high mortgage rates and property prices, despite some positive signs like potential mortgage rate decreases and price adjustments by homebuilders to make new houses more appealing.
The United States saw fewer new home sales than expected in January, the latest sign of unease in America’s housing market. Vault co-authors @BrendanPedersen and @LauraEWeiss16 have the details. https://t.co/kexdwjUK2F
Prices of New Houses v. Prices of Existing Houses: Why Sales of New Houses Hang in there as Sales of Existing Houses Plunge. Price cuts and mortgage-rate buydowns, though costly for homebuilders, make new houses more attractive https://t.co/ploRBScJ8m https://t.co/MLNLRJG6vz
Prices of New Houses v. Prices of Existing Houses: Why Sales of New Houses Hang in there as Sales of Existing Houses Plunge. Lower prices and mortgage-rate buydowns, though costly for homebuilders, make new houses more attractive https://t.co/ploRBScJ8m https://t.co/KyNxCc6hsK
For years new home-buyers in America have enjoyed lower housing payments than renters. But today the choice between buying and renting looks very different. Read why https://t.co/bQ3uDKaZw4 👇
Four years after the onset of COVID-19, housing is still feeling the ripple effects of the pandemic in Nevada, where the median home price remains at least $100,000 more than 2020 levels. Via @csauvageau_1998: https://t.co/hiUTCBpWQg
While cheaper mortgages and falling house prices are good news for first-time buyers, rates are still historically high – and property prices are too. So will mortgage rates go down in 2024? https://t.co/ji6jwsm96z
⚠️ US NEW HOME SALES MISS EXPECTATIONS IN JANUARY (Reuters) Sales of new U.S. single-family homes rose less than expected in January, likely curbed by frigid weather, but demand for new construction remains underpinned by a persistent shortage of previously owned homes. New…
Higher interest rates, home prices result in fewer sales at start of 2024 Nevada’s housing market is still feeling effects of COVID. Realtors expect interest rates to drop, but costs remain about $100K more than 2020. via @csauvageau_1998 https://t.co/kCSMtSH3HS @TheNVIndy
New home sales in January were flattish vs December but there was a big pop in the West and a slump in the South -- guessing the latter is weather-related and will reverse in February: https://t.co/smgF2n2BDt
Sales of previously occupied US homes ticked up in January but remained historically low after 2023 saw the fewest sales in nearly 30 years. https://t.co/yp6yvSo8CR