Home Sales Rebound, Prices Edge Up
Irvine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Existing home sales in the US surged in February, beating expectations with a seasonally adjusted annual rate of 4.09 million units, up 1.7% from January. However, sales remained down 1.4% from last February. Median home prices hit a record high of $398,000, up 0.3% from a year ago. The housing market has been struggling since 2022 due to rising mortgage rates, but lower rates and increased inventory have sparked a rebound. Despite a three-point-eight-month supply, affordability issues and potential rate hikes could slow the market as spring buying season approaches.
Support the show:
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN:
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected].
View sources & latest updates:
https://sources.thednn.ai/829159f857b679c3