Home » Economy » Existing home sales tumbled in December for 11th straight month, falling to lowest level since 2010
Existing home sales tumbled in December for 11th straight month, falling to lowest level since 2010
Southern Florida’s housing inventory is still ‘quite limited’: Dina Goldentayer
Douglas Elliman executive director of sales Dina Goldentayer discusses Florida’s red-hot housing market as demand continues to rise on ‘Mornings with Maria.’
U.S. existing home sales slowed for the 11th consecutive month in December as higher mortgage rates, surging inflation and steep home prices sapped consumer demand from the housing market.
Sales of previously owned homes tumbled 1.5% in December from the prior month to an annual rate of 4.02 million units, according to new data released Friday by the National Association of Realtors (NAR). On an annual basis, existing home sales are down 34% when compared with December 2021.
It is the slowest pace since November 2010, when the U.S. was still in the throes of the housing crisis triggered by subprime mortgage defaults.