The median existing-home price in the US was $363,000 in February which is down 0.2% from February 2022. This is the first time ever that home prices have seen a decline since February 2012.
A decade of the year-over-year increase in home prices is the longest on record and the prices fell more than a year. The prices of homes have fallen 5.6% in the West, and 4.5% in the Northeast. Housing is expensive in the West and Northeast.
The prices are still climbing from last year in the South and the Midwest. They were up 2.7% in the South and 5% in the Midwest.
The chief economist for NAR, Lawrence Yun said that this is not the bottom for prices, but they expect a continuing price correction. Also, they are not expecting prices to crash. There is a decrease in the median but it is almost close to nothing.
US home sales surged in February after a full year of decline due to a spike in mortgage rates. February also marks the end of longes streak of month-to-month declines in home sales. The sales of existing homes went up 14.5% in February from January.
This post was last modified on 22 March 2023 3:07 am
For a long time, Andhra Pradesh cities were missing from India’s top 10 Ease of…
Former Femina Miss India Grand International, Meenakshi Chaudhary has been part of the Tollywood industry…
Confident Group Chairman and Bigg Boss sponsor Dr Chiriankandath Joseph Roy shot himself in the…
Ram Charan should have arrived in theatres with Peddi on the occasion of his birthday,…
A day after sending moviegoers into frenzy by silently erecting massive hoardings in the holy…
https://www.youtube.com/watch?v=fgUOXQpLfn4 Bhagavanthudu marks an exciting beginning for Ravi Panasa Film Corporation with its first production,…