U.S. Home Sales Fall in January Amid High Mortgage Rates
January's U.S. pre-owned home sales fell 4.9% to 4.08 million units, a decline attributed to high mortgage rates around 7% and a median home price of $396,900; however, unsold homes increased to 1.18 million units.
U.S. Home Sales Fall in January Amid High Mortgage Rates
January's U.S. pre-owned home sales fell 4.9% to 4.08 million units, a decline attributed to high mortgage rates around 7% and a median home price of $396,900; however, unsold homes increased to 1.18 million units.
Progress
36% Bias Score
U.S. Housing Market: Imperfections, Not Crisis
A Cato at Liberty blog series challenges the prevailing narrative of a U.S. housing crisis, presenting data on increasing home sizes, stable work hours needed to afford rent (until 2019), and rising household incomes to argue that housing affordability has improved despite market imperfections.
U.S. Housing Market: Imperfections, Not Crisis
A Cato at Liberty blog series challenges the prevailing narrative of a U.S. housing crisis, presenting data on increasing home sizes, stable work hours needed to afford rent (until 2019), and rising household incomes to argue that housing affordability has improved despite market imperfections.
Progress
56% Bias Score
U.S. Pending Home Sales Surge 2.2% in November
U.S. pending home sales rose 2.2% in November to 79.0 on the NAR's Pending Home Sales Index, exceeding expectations and marking four months of gains due to increased inventory and adjusted buyer expectations of mortgage rates despite rates being above 6% for two years.
U.S. Pending Home Sales Surge 2.2% in November
U.S. pending home sales rose 2.2% in November to 79.0 on the NAR's Pending Home Sales Index, exceeding expectations and marking four months of gains due to increased inventory and adjusted buyer expectations of mortgage rates despite rates being above 6% for two years.
Progress
32% Bias Score
US Existing Home Sales Plunge to Near 30-Year Low
US existing home sales in 2024 hit a near three-decade low of 4.06 million due to record-high home prices ($407,500 median) and elevated mortgage rates (peaking at 7.22%), although December saw a slight increase, and experts predict continued challenges in 2025.
US Existing Home Sales Plunge to Near 30-Year Low
US existing home sales in 2024 hit a near three-decade low of 4.06 million due to record-high home prices ($407,500 median) and elevated mortgage rates (peaking at 7.22%), although December saw a slight increase, and experts predict continued challenges in 2025.
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40% Bias Score
Four Major U.S. Cities Buck Trend, See Home Price Declines in 2024
In November 2024, four major U.S. citiesāAustin, Tampa, San Antonio, and Fort Lauderdaleāexperienced home price declines ranging from -1.6% to -3.7%, contrasting with a national average increase of 5.4%, due to increased housing supply, slower migration, and high levels of unsold homes.
Four Major U.S. Cities Buck Trend, See Home Price Declines in 2024
In November 2024, four major U.S. citiesāAustin, Tampa, San Antonio, and Fort Lauderdaleāexperienced home price declines ranging from -1.6% to -3.7%, contrasting with a national average increase of 5.4%, due to increased housing supply, slower migration, and high levels of unsold homes.
Progress
44% Bias Score
US Housing Market: Job Growth and Inventory to Drive 2025 Recovery
Despite high mortgage rates, America's housing market anticipates a 2025 boost from robust job growth and increased housing inventory, with the South and West projected for faster growth.
US Housing Market: Job Growth and Inventory to Drive 2025 Recovery
Despite high mortgage rates, America's housing market anticipates a 2025 boost from robust job growth and increased housing inventory, with the South and West projected for faster growth.
Progress
44% Bias Score