Existing-Home Sales Dip By 2.7% In March 2022
Existing house sales decrease by 2.7% in March
In March 2022, the sale of existing houses fell to a seasonal annual interest rate (Sarar) of 5.77 million per year.Data from the National Association of Realors (NAR), published on April 20, 2022. This was a decline of 2.7 %.From February and sales, all four American regions fell. The stocks of the unbelled existing houses rose by 11.8 % to 950,000, which corresponds to 2.0 months of sales in March.
The negative report on existing home sales follows two mixed lectures on the American housing market that was published at the beginning of this week. The Woonstarter begins a little in March, but the Homelians reported that a deteriorating picture of a message begins in the coming months.
- The sale of existing houses took back 2.7% on a seasonal basis from February to March 2022.
- The average price for existing houses rose by 15.0% yoj.varular warehouses like non -Sold houses, but the time in real estate is good for real estates..
Home Sales Ook Down Yoy
Existing sales of homes are completed transactions with the only houses, villas, housing cooperatives and CoPPS mentioned. As mentioned above, this number fell by 2.7% from February to March and reached a seasonal annual interest rate of 5.77 million.At Joj - The basic turnover fell by 4.5% of 6.04 million in March 2021.
Lawrence Yun, the most important economist of NAR, comments on the real estate market, feels the effects of significantly increasing level of priority and higher inflation that receive purchasing power.
With the mortgage interests that are expected to continue to increase, Yun predicts that the transaction will take 10% this year. He also assumes that property prices will be adjusted, which reduces the price increase to around 5%.
The Impact Of Buyers From The First
The first buyers made 30% of sales in March, an increase of 29% in February 32% in March 2021. By 2021, the annual share was 34% for the first time.
It seems that buyers for houses still want to close today's interest before they inevitably rise, said Yun.
Individual investors or buyers in the second house, who form a lot of money sales, bought 18% of the housing construction in February in March, but an increase of 15% in March 2021. The turnover of all content was 28.% of the transactions in March over 25% were registered by 23% in February and March 2021.
As mortgage is increasing, the sale of cash gave a larger part of the transactions that have risen to the highest ratio since 2014, said Yun.
The sale of UStallets, including screening and empty sales (empty sales, comprises real estate, of which the value is lower than the amount due to the mortgage loan) was less than 1% of total sales in March 202. This was remained unchanged compared to both February.2022 as March 2021.
The Time On The Market Is Getting Shorter
The real estate usually stayed on the market on March 17, an autumn of eighteen days in February and eighteen days in March 2021. Around 87% of the houses sold in March were less than a month on the market.
Real Estate Prices Are Still Rising Quickly
The existing home price of the media for all types of houses in March was $ 375,300, an increase of 15.0% compared to March 2021, when it was $ 326,300.that adds a flat strip.
Yun found that the property prices have increased consistently because the offer stays nearby, but sellers should not expect the simple profit and look for more offers to fade if the question continues to fall.
The Furniture Increases In March
The overall estimate of the house at the end of March rose by 950,000 units compared to February, but at 9.5% compared to 1.05 million in March 2021.Present for sale., compared to 1.05 million in March 2021. The Uslggt now corresponds to 2.0 months of offer in sales, up to 1.05 million in March 2021. The Uolgta now corresponds to 2, zero months of offer in the present, Up, Up, Up to 1.05 million in March 2021. The Usolg share is now in sales for 2.0 months, until the construction of 1.7 months in February and a decline of 2.1 months in March 2021.
The sale of existing houses took back 2.7% on a seasonal basis from February to March 2022.The average price for existing houses rose by 15.0% yoj.varular warehouses like non -Sold houses, but the time in real estate is good for real estates.
1. Image Source:Click Here
2. Image Source:Click Here