A real estate sign is posted outside of a recently sold home, Tuesday, Feb. 21, 2023, in Valrico, Fla. On Tuesday, – Sales of previously occupied U.S. homes surged in February to the fastest pace in six months as homebuyers seized on a modest drop in mortgage rates. The nation’s median price also edged lower, its first annual drop since 2012.
Still, sales sank 22.6% last month from February last year, a sign many would-be homebuyers remain priced out of the market following years of price increases and sharply higher mortgage rates than a year ago.reached a two-decade high of 7.08% in the fall. Rates eased in December and January, and slipped to just above 6% in early February.
Yun has forecast that U.S. home prices will fall 2% this year, but acknowledged they could just as easily end up falling or rising 5%, depending on what happens with mortgage rates.The slight dip in prices is a good sign for buyers as the spring homebuying season ramps up, though The average rate on a 30-year home loan slipped to 6.60% last week, according to mortgage buyer Freddie Mac. A year ago, the rate averaged 4.16%.
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Lower mortgage rates boost US home sales in FebruaryU.S. existing home sales rebounded more than expected in February as lower mortgage rates and the first year-on-year decrease in prices in 11 years pulled buyers back into the market, further evidence that the housing market was stabilizing at low levels. Fake news Where? Lower rates? 😂😂😂😂
Source: Reuters - 🏆 2. / 97 Read more »
US home sales surged in February as mortgage rates dippedLOS ANGELES (AP) — Sales of previously occupied U.S. homes surged in February to the fastest pace in six months as homebuyers seized on a modest drop in mortgage rates. The nation’s median price also edged lower, its first annual drop since 2012. This is true. I had several clients requesting additional copies of past tax returns to purchase a new home. Sweet, all I need now is $30,000 for a down payment. No problems there
Source: AP - 🏆 728. / 51 Read more »
U.S. home sales surged in February as mortgage rates dippedSales of previously occupied U.S. homes surged in February to the fastest pace in six months as homebuyers seized on a modest drop in mortgage rates and slight pullback in prices. The banking crisis has brought the mortgage rates down to lower-mid 6s, which has marginally improved the housing affordability and hence the jump in home sales.
Source: WashTimes - 🏆 235. / 63 Read more »
US home sales surged in February as mortgage rates dippedSales of previously occupied U.S. homes surged in February to the fastest pace in six months as homebuyers seized on a modest drop in mortgage rates and a slight pullback in prices, but the first annual drop since 2012.
Source: chicagotribune - 🏆 8. / 91 Read more »