U.S. existing home sales dropped to the lowest level in more than 12 years in January, but the pace of decline slowed, raising cautious optimism that the housing market slump could be close to reaching a bottom.
Existing home sales fell 0.7% to a seasonally adjusted annual rate of 4.00 million units last month, the lowest level since October 2010, when the nation was grappling with the foreclosure crisis. That marked the 12th straight monthly decline in sales, the longest such stretch since 1999.
The housing market has been the biggest casualty of the Fed's aggressive monetary policy tightening. Residential investment has contracted for seven straight quarters, the longest such stretch since 2009.and permits for future home construction declining in January. There were 980,000 previously owned homes on the market, up 2.1% from December and 15.3% from a year ago. But this mostly reflected homes staying on the market longer than in prior months. New listings remained low.
S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 50.2 this month from a final reading of 46.8 in January.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
U.S. Home Sales Fell in January for 12th Straight MonthU.S. home sales fell in January for the 12th straight month as high mortgage rates continued to weigh on the housing market
Consulte Mais informação »
Existing-home sales fall for the 12th straight month in January, lowest since 2010The 12-month losing streak is the longest since NAR began tracking sales in 1999.
Consulte Mais informação »
Home sales sank in January for the 12th straight month | CNN BusinessUS home sales declined in January for the 12th consecutive month as mortgage rates remained elevated and stubbornly high prices kept homebuyers out of the market.
Consulte Mais informação »
Existing home sales unexpectedly fall in January for 12th straight monthSales of previously owned homes fell 0.7% in January from the prior month due to higher mortgage rates, according to the National Association of Realtors.
Consulte Mais informação »
Housing slump continues as sales fell for 12th straight monthJanuary’s sales cratered by nearly 37% from a year earlier and slipped 0.7% from December.
Consulte Mais informação »
US: Existing Home Sales decline by 0.7% in January vs +0.1% expectedExisting Home Sales in the US declined by 0.7% in January to an adjusted annual rate of 4 million, the National Association of Realtors (NAR) reported
Consulte Mais informação »