- 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.
