USA News Today | Daily Us NewsPaper
Sunday, July 6, 2025
  • Politics
  • Headlines
  • Local news
  • Business
  • Science
  • Lifestyle
  • Tech
USA News Today | Daily Us NewsPaper
No Result
View All Result
Home Business

U.S. Existing Home Sales Show Significant Rebound In January

February 24, 2024
in Business
U.S. Existing Home Sales Show Significant Rebound In January


Existing home sales in the U.S. saw a significant rebound in the month of January, according to a report released by the National Association of Realtors on Thursday.

NAR said existing home sales jumped by 3.1 percent to an annual rate of 4.00 million in January after falling by 0.8 percent to a revised rate of 3.88 million in December.

Economists had expected existing home sales to surge by 5.0 percent to a rate of 3.97 million from the 3.78 million originally reported for the previous month.

Despite the notable monthly increase, existing home sales in January were down by 1.7 percent compared to 4.07 million in the same month a year ago.

“While home sales remain sizably lower than a couple of years ago, January’s monthly gain is the start of more supply and demand,” said NAR Chief Economist Lawrence Yun. “Listings were modestly higher, and home buyers are taking advantage of lower mortgage rates compared to late last year.”

The monthly rebound in existing home sales came as sales accelerated in the Midwest, South and West and remained steady in the Northeast.

The report also said housing inventory at the end of January totaled 1.01 million units, up 2.0 percent from 990,000 units in December and up 3.1 percent from 980,000 units a year ago.

The unsold inventory represents 3.0 months of supply at the current sales pace, down from 3.1 months in December but up from 2.9 months in January 2023.

NAR said the median existing home price was $379,100 in January, an increase of 5.1 percent from $360,800 a year ago.

Next Monday, the Commerce Department is scheduled to release its report on new home sales in the month of January.

New home sales are expected to increase to an annual rate of 675,000 in January after jumping to a rate of 664,000 in December.

Copyright © 2024, RTTNews.com, Inc. All Rights Reserved.

Tags: Breaking NewsEconomic NewsForex Top StoryFront Page NewsGeneral NewsTop story

Related Posts

U.S. Consumer Sentiment Tumbles To Six-Month Low In May

by USA News Editor
May 13, 2024
0

A report released by the University of Michigan on Friday showed a substantial deterioration in U.S. consumer sentiment in the...

U.S. Service Sector Activity Contracts For First Time Since December 2022

by USA News Editor
May 3, 2024
0

After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a...

U.S. Job Growth Falls Short Of Estimates In April, Unemployment Rate Ticks Higher

by USA News Editor
May 3, 2024
0

After reporting stronger than expected job growth over the past several months, the Labor Department released a report on Friday...

U.S. Factory Orders Surge In Line With Estimates In March

by USA News Editor
May 2, 2024
0

New orders for U.S. manufactured goods surged in line with economist estimates in the month of March, according to a...

U.S. Labor Productivity Increases Modestly In Q1, Labor Costs Spike

by USA News Editor
May 2, 2024
0

A report released by the Labor Department on Thursday showed labor productivity in the U.S. increased by less than expected...

U.S. Trade Deficit Narrows Slightly To $69.4 Billion In March

by USA News Editor
May 2, 2024
0

The U.S. trade deficit edged slightly lower in the month of March, according to a report released by the Commerce...

Advertisement

Today Trend USA News

Train Share New Single 'Long Yellow Dress'

1 year ago
Ariana Grande Reveals Full 'Eternal Sunshine' Tracklist

Ariana Grande Reveals Full 'Eternal Sunshine' Tracklist

1 year ago

Bill Banning TikTok To Put 300000 American Jobs At Risk: TikTok CEO

1 year ago

Eric Church To Headline Sugar Bowl Country Kickoff Show

1 year ago
Instagram's Creator Marketplace Expanding To 8 More Countries

Instagram's Creator Marketplace Expanding To 8 More Countries

1 year ago

Alabama Reveal Lineup For June Jam XVIII

1 year ago

Popular News Today

  • Study Reveals Surge Of Antidepressants Usage Among Girls During Pandemic

    0 shares
    Share 0 Tweet 0
  • About
  • Contact Form
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2024 USANEWS.ONE

No Result
View All Result
  • Politics
  • Headlines
  • Local news
  • Business
  • Science
  • Lifestyle
  • Tech

© 2024 USANEWS.ONE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

We respect your privacy and take protecting it seriously