Home sales continue on a downward path

Existing home sales have fallen for 11 months in a row, per a recent report published by Realtor.com. This is not a huge surprise due to the market slowing down from the covid-19 rush we experienced, along with interest rates increasing over the last 6 months. When rates increase, often times the housing market will experience a slow-down due to some buyers deciding to wait for rates to come back down before buying a home.

In addition, prices have also decreased slightly over the last year even though some markets are experiencing lower inventories. Typically when this happens (lower inventory levels), we see an increase in prices, but in this case, the supply is still slightly less than the demand, but not by a whole lot.

If you track the real estate market, whether you are an investor, owner or a potential home-buyer, I would encourage you to dive into some of the details of this recent report to better understand the current status of the housing market. It’s a great read that you can easily find here:

Read the Original Article Here: U.S. Existing-Home Sales Fall for the Eleventh Straight Month in December

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