US existing home sales for January. 4.08 million versus 4.12 million estimate

  • Prior month 4.24M annualized sales pace revised to 4.29M
  • Existing home sales for January 2025 4.08M vs estimates of 4.12M.
  • Existing home sales -4.9%
  • Home supply 3.5 months versus 3.3 months last month

Other detals from the NAR Realtors showed:

  • The median existing-home sales price advanced 4.8% from January 2024 to $396,900, the 19th consecutive month of year-over-year price increases.
  • Cash sales 29% vs 32% last year
  • First-time buyers were responsible for 28% of sales in January, down from 31% in December 2024 and identical to January 2024.
  • Individual investors or second-home buyers, who make up many cash sales, purchased 17% of homes in January, up from 16% in December and unchanged from January 2024.
  • According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.85% as of February 20. That’s down from 6.87% one week ago and 6.90% one year ago.

This article was written by Greg Michalowski at www.forexlive.com.

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