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U.S. Home Sales Hit Three-Year Low


According to a report from the National Association of Realtors (NAR), existing home sales are now the weakest since Trump was elected.

The NAR said existing home sales declined 6.4% to a seasonally adjusted annual rate of 4.99 million units last month. That was the lowest level since November 2015.

The housing market has been slowed by higher mortgage rates as well as land and labor shortages.

But the sky isn’t falling.

The 30-year fixed mortgage rate has declined to a four-month low, with much of the drop occurring in the second half of December. Plus, adding another glimmer of hope, U.S. home price increases are slowing. In fact, the median existing house price increased 2.9% from a year ago to $253,600 in December. That was the smallest increase since February 2012.

Read on HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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