Rising mortgage rates, dwindling supply don’t cool existing home sale prices.
Tagged: National Association of Realtors (NAR)
Pending home sales fell for the fifth consecutive month, according to the National Association of Realtors pending home sales index.
Month-over-month, sales in March fell in three of the four major U.S. regions, while holding steady in the West.
Northeast region of U.S. bucks trend with increase in contract signings.
Each of the four major U.S. regions saw sales of existing homes fall on a month-over-month basis in February.
Middle class homeownership created $2.1 million in wealth over a decade studied by the NAR
Slump continues three-month drop in transactions.
The Black homeownership rate is lower than a decade ago, while Hispanic homeownership is at all-time high.
After declining in December, sales of existing homes rose 6.7% in January, despite housing inventory being at an all-time low.
Report by NAR, Realtors.com finds record-high prices & record-low inventory makes it difficult for consumers, and especially Black consumers, to buy houses.