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The rebound in existing US home sales during the first month of 2024 may prove fleeting, at least if you go by contract activity.
Pending transactions dove nearly 5% last month, an update released on Thursday showed.
Economists weren't even close on this one. Consensus expected a 1.5% gain. The range of estimates from two-dozen people who are supposed to know something about houses was -3% to 4.6%.
The drop counted as the largest since August, when the onset of what would ultimately be a th
I managed to go to contract selling my mom’s coop in Manhattan. I’m on my coop board in Brooklyn we had a pied a terre go to contract there. My buyer had an ltv on purchase of 33%. The coop sale in Brooklyn was for cash. If you are selling you need to price right in nyc, have an apartment in good condition, and get lucky with a well off buyer. Brooklyn is pretty hot considering but the market in nyc is fragile but better. Lower rates would help improve traffic a lot
Local vs national. Back in 2008 many friends and colleagues tried to extrapolate what was happening in their local housing markets to the country as a whole. Plus, we all knew that there was NEVER a nationwide drop in home prices ever, right? Oopssie.
On a related note, this chart was pushed to me today:
https://realinvestmentadvice.com/wp-content/uploads/2024/02/effective-personal-interest-rates-1024×683.png