Sales of existing homes unexpectedly fell in January

Existing home sales slid 4.9% in March after jumping the most in almost four years in February, according to the National Association of Realtors. Sales of existing single-family homes, condominiums.

At the current pace, it would take 3.4 months to sell the homes on the market, compared with 3.2 months in December and 3.6 months in January 2017. The Realtors group considers a normal market at six to seven months’ supply. Single-family home sales fell 3.8% to an annual rate of 4.76 million, the lowest since July 2016.

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Toronto housing continues slowdown with August price drop Canada’s housing market continues to show strength overall, with a slowdown in a few urban centres, but it “may only be a matter of timing” before there’s a full-blown correction, warns an economist, reports Yahoo Finance. Capital Economics economist David Madani, known for his bearish.

Sales of previously-owned U.S. homes fell unexpectedly in January, to the lowest level in more than three years, but the National. median sales price increased 5.8% y/y to $240,500 Inventory of available properties fell 9.5% y/y to 1.52m, lowest for January since records began in 1999.

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The estimate of new houses for sale at the end of January was 301,000, representing 6.1 months of supply at the current sales rate. Last Wednesday, the National Association of Realtors released a separate report unexpectedly showing a significant decrease in existing home sales in January.

Sales of existing homes in the US fell below market expectations in March following solid performance the month before, pointing to ongoing weakness in the housing market. Sales dropped -4.9% vs.

U.S. Existing Home Sales Hit Bottom at 3-Year Low – NAR.. Sales of previously-owned U.S. homes fell unexpectedly in January, to the lowest level in more than three years, but the National.

Higher mortgage rates prove to be mixed blessing for U.S. Bancorp With the improvement in employment and continued low interest rates I would have expected the monthly figures on housing starts, new and existing home sales, and mortgage applications for purchase to.

Homes typically sold in 42 days, down from 50 days a year earlier 43 percent of homes sold in January were on market for less than a month. Existing home sales account for 90% of the market and are calculated when a contract closes.

Existing home sales, which make up about 90% of U.S. home sales, dropped 4.4% from a year ago, the 14th straight annual decrease. According to the NAR, there was a 10% drop from a year earlier in. WASHINGTON (Reuters) – U.S. home sales unexpectedly fell in April amid persistent weakness in the lower-priced segment of the market, which has.