(CercleFinance.com) – Sales of existing homes in the United States fell for an 11th month in a row in December 2022 compared to the previous month, falling 1.5% to an annualized rate of 4.02 million, according to the seasonally adjusted data from the National Association of Realtors.
“Buyers continue to face limited inventory and high mortgage rates,” said Lawrence Yun, NAR’s chief economist, who, however, is hoping for a pick-up in sales soon as mortgage rates have come down sharply.
In total, sales of existing homes totaled 5.03 million in the year 2022, down 17.8% from 2021, as last year’s rapid escalation in interest rates weighed in the residential real estate market.
Copyright © 2023 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
