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Freddie Mac

Real Estate
Home Sales Tumble As Prices Set Records: Here's Why Home Sales Tumble As Prices Set Records: Here's Why
Home Sales Tumble As Prices Set Records: Here's Why US home sales dropped more than expected in June as buyers pulled back amid record-high prices and mortgage rates that have stayed high. Sales of previously owned homes fell 2.7% in June to a seasonally adjusted annual rate of 3.93 million, according to the National Association of REALTORS. Analysts had predicted just a 0.7% drop, CNBC reported. The median sales price nationwide rose 2% from June 2024 to $435,300, setting a new record. The report reflects contracts likely signed in April and May, when the average 30-year mortgage rate hovered above 6.8% and briefly topped 7%, according to M…

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by Chris Spiker
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