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Tag: Mortgage Rates

US Home Prices Hit All-Time High in June 2025 Amidst Sales Decline

US Home Prices Hit All-Time High in June 2025 Amidst Sales Decline

US Home Prices Hit All-Time High in June 2025 Amidst Sales Decline Despite a continued slump in overall sales, US home prices surged to an all-time high in June 2025. The median price for an existing home reached $435,300 last month, surpassing the previous record set in June 2024, according to recent data from the National Association of Realtors. This new peak comes even as sales numbers dipped to a nine-month low, decreasing 2.7% from May. The current market is…

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US Existing Home Sales Plunge to 9-Month Low Amidst Record Prices and High Mortgage Rates

US Existing Home Sales Plunge to 9-Month Low Amidst Record Prices and High Mortgage Rates

US Existing Home Sales Plunge to 9-Month Low Amidst Record Prices and High Mortgage Rates The U.S. housing market experienced a significant setback last month, with existing home sales falling to their lowest level in nine months. Industry data released Wednesday revealed a 2.7 percent drop in June, bringing sales to a seasonally adjusted annual rate of 3.9 million units. This downturn significantly missed analysts’ consensus forecasts, which had anticipated a smaller decline. The National Association of Realtors (NAR) highlighted…

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Housing Market Plunges: Economist Issues ‘Red Flare’ as Builders Retreat

Housing Market Plunges: Economist Issues ‘Red Flare’ as Builders Retreat

Housing Market Plunges: Economist Issues ‘Red Flare’ as Builders Retreat The U.S. housing market is flashing a stark “red flare,” with a rapid deterioration now poised to significantly drag down overall economic growth, according to Moody’s Analytics chief economist Mark Zandi. Just weeks after his initial “yellow flare” warning, Zandi asserts that unless mortgage rates substantially decline from their current near-7% levels, home sales, new construction, and prices are set for a steep slump. Recent data paints a grim picture:…

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Housing Market Nears Crisis Point as Economist Issues “Red Flare” Warning

Housing Market Nears Crisis Point as Economist Issues “Red Flare” Warning

Housing Market Nears Crisis Point as Economist Issues “Red Flare” Warning The U.S. housing market is rapidly deteriorating, prompting Moody’s Analytics chief economist Mark Zandi to issue a stark “red flare” warning, indicating a significant drag on overall economic growth. Just weeks after his initial “yellow flare,” Zandi now believes the outlook has worsened considerably. In recent analyses, Zandi emphasized that a substantial decline in mortgage rates from their current near-7% levels is crucial to prevent a slump in home…

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UK Markets Rebound as Chancellor Reeves Gains Confidence Amidst Fiscal Shifts

UK Markets Rebound as Chancellor Reeves Gains Confidence Amidst Fiscal Shifts

UK Markets Rebound as Chancellor Reeves Gains Confidence Amidst Fiscal Shifts UK borrowing costs have seen a significant fall, partially reversing a recent surge that followed Chancellor Rachel Reeves’ emotional appearance in the Commons earlier this week. The yield on UK 10-year bonds dropped to 4.55% from 4.61% at the previous day’s close, as markets reacted positively to Prime Minister Sir Kier Starmer’s assurance that he works “in lockstep” with Reeves. The pound also saw a recovery, rising to $1.3668,…

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Slowdown in US Existing Home Sales Continues Through May 2024

Slowdown in US Existing Home Sales Continues Through May 2024

Slowdown in US Existing Home Sales Continues Through May 2024 Existing home sales in the United States continued their downward trend in May 2024, marking the slowest May for sales since 2009. According to the National Association of Realtors (NAR), existing home sales in May fell 0.7% compared to May 2023. While sales saw a slight 0.8% monthly increase from April, this followed the slowest April for existing home sales in 16 years. In March, sales fell 5.9 percent to…

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