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US Home Sales in October Rose to Highest Level Since Februarywww.wsj.com/economy/housing/home-sales-in-october-rose-to-the-highest-level-since-february-55e57518
310 sats \ 3 comments \ @Coinsreporter 13h econ
Non pay-walled: https://archive.is/FmQGz
Sales of existing homes rose 1.2% from the prior month to a seasonally adjusted annual rate of 4.1 million, the highest level since February, the National Association of Realtors said Thursday.
Prices are falling in some southern and western markets where inventory has risen. Buyers in many markets have been able to negotiate price cuts and other concessions.
And they are saying that a little tweak in mortgage rates has been the biggest reason for this sharp sudden incline!
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42 sats \ 0 replies \ @grayruby 13h
People trying to catch the wave of fed rate cut before the market spiked them back up.
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21 sats \ 0 replies \ @Undisciplined 13h
It could be. Lots of people put off selling because they couldn’t recoup the price they paid. At slightly lower rates, buyers are more willing to pay the same price.
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0 sats \ 0 replies \ @Solomonsatoshi 9h
The price of debt decreased steadily from the late 1980s until after Covid. Now it cannot go up much, or down much. The fiat debt based currencies are stuck in a narrow zone where the price of debt cannot increase much without collapsing the massive pile of debt that has been accumulated over the last 35 years- most of that debt leveraged upon non productive assets- mostly real estate. Real estate prices will stagnate at best- more likely collapse in the next 5 years.
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