The United States’ National Association of Realtor (NAR) on Friday released a statement indicating that sales of existing homes in the United States fell for the third consecutive month in April, as an inevitable delay in supplies appears to have presided over solid groundwork to drive house prices to an all-time high amid low long-term mortgage rates over several years on average.
In fact, the latest drop in sales of existing homes in the United States, which bodes well for sales of new single-family homes, came as a number of pandemic-wary Americans sought shelter in the suburbs and beyond. the campaign during the peak of the pandemic last year in an attempt to avoid densely populated US cities.
Home prices in the United States are rushing to register; lower mortgage rates
Along with that, according to data from the American National Association of Realtors released Friday night, sales of existing homes fell 2.7% to 5.85 million seasonally adjusted units last month on an annualized basis, while sales of existing homes had experienced steeper declines. in the northeast, west and south of the United States.
However, on an annual basis, sales of existing homes in the United States climbed 33.9% in April amid low long-term mortgage rates over several years.. Nonetheless, despite reports of a severe shortage of supply in the US housing market, median prices for existing homes climbed 19.1% to an all-time high of $ 341,600 in April on an annual basis, said the National Association of Realtors.
According to US mortgage buyer Freddie Mac, 30-year fixed-rate home loans were at 3.150% this week, from 3.30% in April, while 20-year fixed mortgages fell to 3.070% from 3.220% . timed in april.
15-year fixed rate home loans stood at 2.430%, up from 2.630% a month earlier.