U.S. home sales post 12th straight monthly drop; house price inflation slows

Existing home sales fell 0.7% to a seasonally adjusted annual rate of 4.00 million units last month, the lowest level since October 2010, when the nation was grappling with the foreclosure crisis. That marked the 12th straight monthly decline in sales, the longest such stretch since 1999.

The housing market has been the biggest casualty of the Fed's aggressive monetary policy tightening. Residential investment has contracted for seven straight quarters, the longest such stretch since 2009.and permits for future home construction declining in January. There were 980,000 previously owned homes on the market, up 2.1% from December and 15.3% from a year ago. But this mostly reflected homes staying on the market longer than in prior months. New listings remained low.

S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 50.2 this month from a final reading of 46.8 in January.

'House price inflation?' It's more like home value appreciation.

Not in Florida

Not in Pennsylvania . People still think they can get the pandemic price.

Not fast enough

The house inflation caused by the same real estate companies pushing fear while they were grabbing homes and buildings to sell at higher prices.

Where's the best place to buy right now in the USA? Cheapest.. but nicest spot.

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