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Despite Record-Low Mortgage Rates, New US House Prices Drop to Lowest April since 2015


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Despite Record-Low Mortgage Rates, New (US) House Prices Drop to Lowest April since 2015

https://wolfstreet.com/2020/05/26/despite-record-low-mortgage-rates-new-house-prices-drop-to-lowest-april-since-2015-sales-to-lowest-april-since-2017/

Quote

Sales of new single-family houses in April dropped 6.2% from a year ago, after having dropped 11.6% in March, to a seasonally adjusted annual rate of 623,000 houses, down nearly 20% from the peak in January:

us-new-house-sales-2020-04.png

This decline in sales has occurred despite record low mortgage rates in April, with the average 30-year fixed rate dropping to 3.23% in the week ended April 30, the lowest ever, according to Feddie Mac data.

And the median price fell.

The median price of new houses in April fell 8.6% from April a year ago to $309,900, according to the Commerce Department, based on data produced jointly by the Census Bureau and the Department of Housing and Urban Development. The peak in prices occurred over two years ago in November and December 2017, at $343,000...

 

Edited by Saving For a Space Ship
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  • 417 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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