The founder of the Connor Group and our colleagues discusses what needs to happen to the housing market and the impact of California Rehabilitation laws.
An existing home sales In the US by 2024 were very low in almost 30 years, as home prices are very up.
The National Association of RealTors issued the data indicating that the sale of existing housing arrived on the lowest level since 1995 last year, in 4.06 billion houses sold each year.
During that time, I average domestic home price Upon reaching a higher $ 407,500 record in 2024.
“As loans prices are near 7% and a soft feeling of housing, there is less likely to continue,” said Alice Zheng, the economicist in Citigrout. “We do not expect greater increase in housing needs.”
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Existing housing sales arrived at the lower level at about 30 years in 2024. (Stock / Stock)
The sale of existing housing has shown signs of the last months of 2024, increased by 2.2% from November to an annual 4.24 million season in December. Year a year, sale was up to 9.3% from a year of 3.88 million in December 2023.
“Sales of housing last month indicated steady stability although it has increased Rates for housing“said the high economicist Lawrence Yun.
“The winter sales are tenderly soft than spring and summer, but the pressure increases as the sale increase each year three months.” Said Yun. “Consumers understand clearly Benefits of Household. The benefits of work and salaries, and the increase in value value, has a positive impact on the market. “
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Existing housing sales are increased every year in all four districts that are the nar, while prices are increasing in each of four.
Selling has been up to 9.3% year after year – the largest profits from June 2021, which was previously conducted by the amount of housing for more than $ 500,000.
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High levels of borrowed housing has compelled the housing market. (Justin Sullivan / Getty Images / Getty Images)
The average homework of existing households was $ 404,400 – up to 6% from $ 381,400 last year.
“The average house’s price has been partly increased due to the best work of the high market,” said Yun. “Selling is up to 35% since last year in houses with more than $ 1 million, and sale dropped less than $ 250,000.”
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Buying houses for the first time they slept 31% of the retail sales in December, from 30% in November and 29% in December 2023.
“NAR Consumer Profile and Sellers of NAR Houses were released in November and found that the 200% of the first housing commissioner was 24%, the lowest amount once recorded.
Reuters contributed to this report.