Print Edition - 2018-01-26  |  Money Digest

US home sales tumbled 3.6pc in December

- - AP, Washington

Jan 26, 2018-

US home sales slid 3.6 percent in December, as rising prices and a declining number of available properties stifled purchases. The National Association of Realtors said on Wednesday that sales of existing homes fell last month to seasonally adjusted annual rate of 5.57 million units. Despite the monthly setback, sales totaled 5.51 million in 2017. That was the highest level since 2006, yet it marked a slight 1.1 percent gain from 2016 as the months’ supply of properties on the market fell to the lowest level ever recorded by the Realtors. The strengthening US economy helped to lift home sales last year, but homeowners are choosing not to list their properties despite the rising prices and relatively low mortgage rates. The lack of homes for sale speaks to the lingering aftershocks from the 2007 housing crisis. 

Published: 26-01-2018 08:48

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment