Multiple interest rate hikes enacted by the U.S. Federal Reserve have proven to have the ability to markedly reduce demand in the housing market.
Recent data shows that buyers entering into contracts to purchase homes in the United States showed significant decline for the month of November.
The drop in pending sales far exceeded expected rates previously forecasted for weeks as 2022 came to a close. That data showed that the number of buyers signing contracts for previously-owned U.S. homes slumped for the sixth consecutive month, according to reports. It was a clear signal that months of significant interest rate hikes prompted by the U.S. Federal Reserve's fight against red hot inflation has shown that the central bank can reduce demand in the country's housing market.
As investment publication Morning Star reported, pending home sales have dropped by the highest rate since last November in the U.S. West, at a rate of 45.7%.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Federal Reserve Bank of San Francisco rules out US recession fearsThomas M. Mertens, a Researcher from the Federal Reserve Bank of San Francisco’s Economic Research Department came out with a recession predictor base
Consulte Mais informação »
NYC mayor lauds federal directive to close federal ‘ghost gun loophole’The ATF is telling gun dealers to run background checks and make serial numbers for partially built guns.
Consulte Mais informação »
U.S. pending home sales sag more than expected in NovemberContracts to buy U.S. previously owned homes fell far more than expected in November, diving for a sixth straight month.
Consulte Mais informação »
US: Pending Home Sales decline by 4% in November vs +0.6% expectedPending Home Sales in the US declined by 4% on a monthly basis in November, the data published by the National Association of Realtors showed on Wedne
Consulte Mais informação »
U.S. pending home sales fall 4% in November to the lowest level since April 2020U.S. pending-home sales fell 4% in November, which is the sixth straight monthly drop, the National Association of Realtors said on Wednesday.
Consulte Mais informação »
Pending home sales fall to second-lowest level on recordHigher borrowing costs and an uncertain economic outlook kept many potential buyers out of the market.
Consulte Mais informação »