Reported about 17 hours ago
Sales of existing homes in the U.S. dropped 4.9% in January due to persistent high mortgage rates around 7% and rising home prices, marking the first decline since September. The downturn is particularly pronounced in the West and South due to adverse weather effects, yet an increase in housing inventory offers a slightly larger selection for buyers. The average duration for homes on the market has also increased, highlighting ongoing housing affordability challenges for many Americans.
Source: YAHOO