NikolayNedyalkov @NikolayNedyalkov: "Home Sales Fell to a..."

Bulgaria

Home Sales Fell to a New 13-Year Low America's 🏡 Home sales took a dive in October, hitting a 13-year low 📉. High interest rates and soaring home prices are the culprits, making home-buying less affordable. Existing-home sales for 2023 are on track to be the lowest since 2011, say economists. 📉 October saw a 4.1% drop in existing-home sales, hitting a rate of 3.79 million, the lowest since August 2010. Year-on-year, sales fell by 14.6%. The housing market is feeling the pinch, with demand slumping and inventory staying low. 💰 Despite the slowdown, home prices are climbing. The national median existing-home price rose 3.4% in October to a record $391,800. Limited supply and higher mortgage rates are key factors driving this trend, says Lawrence Yun, NAR’s chief economist. 📈 The housing market slowdown is tied to the Fed's bid to curb inflation, with interest rates hitting a 22-year high. The impact is clear – a challenging market for buyers and sellers alike. $RDFN (Redfin Corp) $RMAX (RE/MAX Holdings) $CBRE (CBRE Group Inc) $AMT (American Tower Corp) $PLD (Prologis Inc) $SPG (Simon Property Group Inc) $AVB (AvalonBay Communities Inc) $EQIX (Equinix Inc) $CCI (Crown Castle International) $WELL (Welltower Inc) $PSA (Public Storage) $DLR (Digital Realty Trust Inc) $O (Realty Income Corp) $Z (Zillow Group Inc)