The Latest Breaking News from Lawrence Yun

Sales of previously owned US homes slipped to their weakest level in about three decades last year on the back of high housing prices and mortgage rates, according to industry data released Friday.

Sales of previously owned homes in the United States picked up in October, industry data showed Thursday, fueling hopes that a slump in the sector may be ending.

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US existing home sales dropped more than expected in June, according to industry data released Tuesday, while the median price hit a new high.

Markets being what they are, “the simple act of the Fed cutting is not necessarily going to have a direct impact on mortgage rates,” Zelman & Associates’ Alan Ratner said.

Sales of U.S. homes to foreign nationals have fallen to the lowest level in more than a decade, hampered by a strong dollar and many of the hurdles that have kept the housing market in a deep sales slump for over two years

Mortgage rates won’t be going back down to the historical lows seen throughout the pandemic, the National Association of Realtors’ chief economist said.

Existing home sales in the United States edged lower in May as prices reached a record high on continued tight inventory, according to industry data published on Friday.

Learn about the record-high US home prices and the challenges faced by first-time buyers in the competitive housing market.