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National Association of REALTORS®

Real Estate
Home Sales Plummet, Prices Hit New January Record: How Tariffs Could Drive Costs Higher Home Sales Plummet, Prices Hit New January Record: How Tariffs Could Drive Costs Higher
Home Sales Plummet, Prices Hit New January Record: How Tariffs Could Drive Costs Higher Home sales fell in January as prices continued soaring, showing the financial strains potential buyers are facing. Existing-home sales declined 4.9 percent from December 2024 to a seasonally adjusted annual rate of 4.08 million in January, the National Association of Realtors (NAR) said in a news release on Friday, Feb. 21. The median home price climbed 4.8 percent year-over-year to $396,900, the highest amount ever in a month of January. In the Northeast, sales fell 5.7 percent from December to an annual rate of 500,000 homes, though they increased 4.2 percent from January 2024. The m…

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by Chris Spiker
Real Estate
US Home Sales Plunge To Lowest Level Since 1995: Here's Why US Home Sales Plunge To Lowest Level Since 1995: Here's Why
US Home Sales Plunge To Lowest Level Since 1995: Here's Why Home sales in 2024 tumbled to their lowest level in nearly two decades but the Northeast offered a small glimmer of hope in an otherwise challenging year for the housing market. Existing-home sales dropped to 4.06 million in 2024, the National Association of Realtors (NAR) said in a news release on Friday, Jan. 24. That figure marked the worst year for the US housing market since 1995. The sales drop happened as the median price of a home reached a record high of $407,500, up six percent from 2023. "The median home price was elevated partly due to the upper-end market's relative …

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by Chris Spiker
Politics
Murphy: Tax Reform Will Have 'Drastic' Effect On Many In Fairfield County Murphy: Tax Reform Will Have 'Drastic' Effect On Many In Fairfield County
Murphy: Tax Reform Will Have 'Drastic' Effect On Many In Fairfield County FAIRFIELD, Conn. — U.S. Sen. Chris Murphy met with real estate agents and homeowners in Fairfield on Friday, telling them the new federal tax law will have a “drastic” effect on Connecticut, particularly in Fairfield County. Amid warnings from economists that the law will limit mortgage and property tax deductions and cause home values to drop, Murphy said he wanted to hear from those who know the state’s real estate market best. “It’s a tax increase for tens of thousands” of working people across Connecticut, said Murphy, who spoke with constituents at the offices of the Berkshire Hathawa…

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by Meredith Guinness