The Associated Press reported that home sales continue to decline but prices continue to climb.
FOX Weather sat down with Manny Garcia, Senior Population Scientist for Zillow to discuss the company's finding that the vast majority of shoppers factor climate risk into the purchase of a home.In order for Americans to own that white picket fence in their dream neighborhood, they would need to earn over six figures in order to purchase a median-priced home, according to a report fromA homebuyer would need to earn at least $114,627 to afford the median-priced home in the U.S.
Sales of previously occupied U.S. homes fell in October for the ninth consecutive month to the slowest pre-pandemic sales pace in more than 10 years as homebuyers grappled with sharply higher mortgage rates, rising home prices and fewer properties on the market. Sales cratered 28.4% from October last year. Excluding the steep slowdown in sales that occurred in May 2020 near the start of the pandemic, sales are now at the slowest annual pace since December 2011, when the housing market was still mired in a deep slump following the foreclosure crisis of the late 2000s.
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