In the US, the number of homes sold fell for the eleventh consecutive month. Home sales also fell to their lowest level since November 2010, when the U.S. real estate market was hit by the credit crisis.
Why is this important?
The Federal Reserve began tightening monetary policy last year. Since then, interest rates have gone up. So Americans have to pay higher interest rates when they take out a mortgage loan.In the message: 4.02 million homes were sold in the US last month. This is a 34 percent decrease compared to the same month in 2021. 1.5 percent decrease on month-on-month basis. This is evident from the statistics of brokerage firm NAR.
- However, the decline is less than expected. Economists had predicted that only 3.95 million homes would change hands.
- It was the eleventh month in a row that fewer homes were sold in the U.S.
- Average price b
This premium article is for subscribers only
Subscribe and get unlimited access to all articles instantly. From now on €1.99/month.
Already a subscriber? Login and get access to all premium articles.
“Passionate analyst. Thinker. Devoted twitter evangelist. Wannabe music specialist.”
More Stories
US bans Chinese agricultural drones
A total solar eclipse will be visible in the US
America with basketball stars like James and Curry