US home sales decreased in January by 4.9%

Formerly occupied homes in the United States last January.
The rise and prices have postponed many of the potential houses purchases, despite the launch of a large group of real estate in the market.

American homes sales

Today, Friday, the sales fell by 4.9% last month, from December, to a seasonal annual average of 4.8 million homes.
Sales increased by 2% compared to January last year, recording the fourth annual increase in a row.

Real estate prices in America

According to the company “Fact Set” for financial and economic research, the sales of recent homes were less than the expectations of economists, which were indicating their growth at a rate of 4.1 million homes.
House prices rose on an annual basis for the nineteenth month in a row.
The average national sales price increased by 4.8% in January, compared to the previous year to $ 396900.

Sales of housing in America

The sales of existing housing in the United States during the past year have declined to the lowest levels in about 30 years, for the second time.
This came in light of the high real estate financing interest rates, housing prices and the lack of supply in the market.

The National Federation of American Real Estate Developments stated that the sales of existing housing during the past year amounted to 4.6 million housing, a decrease of 0.7% from 2023.

Housing market in the United States

During the past month, he recorded the lowest sales level since 1995, pointing to the high average housing prices at the United States during the past year.
It came 4.7% to 407.5 thousand dollars per residence, which is its highest level ever.
He stated that the housing market in the United States has suffered from sales stagnation since 2022.
And that is when real estate financing interest rates began to rise, from its lowest levels in the period of the new Corona virus.

Real estate financing interest rate

The American Real Estate Finance Corporation, Freddy Mac, indicated last month that the average rate of real estate financing interest has increased for 30 years to its highest level in 23 years.
It came by about 8% in October 2023, and briefly decreased to its lowest level in two years last September, but it was mostly about 7%.