Home sales, prices improve as Fed slows rate hikes. Is this good news?

Xavier Roger


Good news may have arrived for both buyers and sellers in Tuesday’s housing report.

Since early 2022 when it became clear the Federal Reserve planned to raise interest rates to quell four-decade high inflation, existing home sales turned down.

Home sales slid for 12 consecutive months until February, the National Association of Relators reported on Tuesday. The seasonally adjusted annual rate rose to 4.6 million, offering a few glimmers of hope for sellers after sales fell to a pandemic low in January.

Buyers also received some good news in February as annual price increases fell slightly. That ended 131 months of year-over-year price increases – a sharp contrast to the double-digit increases of early 2022.


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