U.S. existing home sales have reached their lowest levels in nearly 30 years, despite a surge of millennials entering their prime home-buying years, and activity likely won’t recover until in…
Home sales nationally are at a 30-year low, and some of the strongest price gains are now happening in neglected markets in the Northeast and Midwest. Pictured here is a home for sale in Baltimore. AUSTIN — U.S. existing home sales have reached their lowest levels in nearly 30 years, despite a surge of millennials entering their prime homebuying years, and activity likely won’t bounce back until interest rates start coming down.
Although the country has 70 million more people than in 1995, existing home sales nationally are now at levels seen in that year, he said. Rates matter because monthly payments are running about 80% higher for the exact same home than they were prior to the big jump in mortgage rates, Hepp said. The inventory of homes is growing, which should give buyers more options and could lift sales, especially if rates come down. Metro Denver has 3.4 times as many listings this year as it had in the first five months of 2021.How much home can households afford in metro Denver? New calculator has the answer.
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