The housing market in the United States is experiencing significant changes, with home prices hitting all-time highs and affordability reaching record lows. Median home prices are contracting at extreme levels, a situation that has only occurred twice since 1964, both leading to severe economic downturns. The United States pending home sales index for November remained unchanged at a record low, indicating a weak resale market due to a lack of inventory and high prices. Despite a drop in mortgage rates, pending home sales are stuck at a 20 to 22-year low, with the South, the largest housing market, experiencing the lowest level of contract signings on record.
Details, details.... 😉 And here's another one for good measure: "The index of contract signings for existing homes declined in the South, the biggest US housing market, to the lowest level on record." https://t.co/uD9ZuK2sdv
US pending home sales stuck at 22-year low despite dip in rates https://t.co/FOLIIrH8ZH by @__gabriellacruz
US pending home sales stuck at 20-year low despite dip in rates https://t.co/ef1BilAenb by @__gabriellacruz
A gauge of pending US existing-home purchases held at a record low in November, indicating a weak resale market beset by a lack of inventory and high prices. https://t.co/uyJILu0dsd
November pending home sales were unchanged, despite a sharp drop in mortgage rates https://t.co/CVlGr1Ro8Z
US Pending Homes Index: Actual 71.6 vs Previous 71.4 US Pending Home Sales Change MoM: Actual 0% vs Forecast 0.85% (Previous -1.5%)
⚠️ CONTRACTS TO BUY EXISTING HOMES STAY FLAT AS MORTGAGE PAYMENTS SOFTEN - NAR Pending U.S. home sales remained unchanged in November, data released Thursday showed, signaling traffic from prospective buyers is slow to recover despite interest rates easing on the most common… https://t.co/rTcnrOta1e
US Pending Home Sales Index Slumps To New Record Low In November https://t.co/dYZTO5oXor
🔴 US PENDING HOMES INDEX ACTUAL 71.6 (FORECAST -, PREVIOUS 71.4) $MACRO
🇺🇸 United States Pending Home Sales Index (Nov) $USD Actual: 71.6 Previous: 71.6
Look what #HK did to its property market. In a new dataset on Webb-site, see that residential deals dropped from 135,778 in 2010 (before so-called anti-speculation taxes) to just 40,073 in 11 months this year. One might speculate that this is a bad thing. https://t.co/ppKW6U8JoN https://t.co/y3j6MHstZZ
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/hKsJZFOYcp 👇
Median home prices are contracting at extreme levels Such a contraction has only been seen in 2 instances since 1964 Both ended in severe economic downturns https://t.co/Xafxx4ZjbR
US Home Prices hit a new all-time high in October while affordability has plummeted to record lows. https://t.co/sj0t5cMvhB