Existing-Home Sales Receded 4.1% in October
Key Highlights Existing-home sales descended 4.1% in October to a seasonally adjusted annual rate of 3.79 million. Sales slumped 14.6% from one year ago. The median existing-home sales price climbed 3.4% from one year ago to $391,800 – the fourth consecutive month of year-over-year price increases.
Instant Reaction: Mortgage Rates, November 16, 2023
Mortgage interest rates are showing signs of relief for home buyers. They have now dropped to 7.44% from 7.5% the week prior. The three-week drop is a steady sign we likely have hit a peak and are headed south for mortgage rates, especially as the 10-year treasury continues its fall from a peak of 5
NAR Chief Economist Says Commercial Real Estate Will Revitalize, Calls on Federal Reserve to Consider Cutting Interest Rates
ANAHEIM, Calif. (November 16, 2023) – Commercial property rates are expected to stabilize – aside from office space – and commercial real estate will revitalize, according to NAR Chief Economist Lawrence Yun. Yun presented yesterday at the Commercial Economic Issues and Trends Forum at 2023 NAR NXT,
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