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Housing Update - July 25, 2024
July 25th, 2024 8:06 AM

According to a report this week from the National Association of Realtors, the nation’s housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices. Sales of previously occupied U.S. homes fell 5.4% last month from May to a seasonally adjusted annual rate of 3.89 million, the fourth consecutive month of declines. Existing home sales were also down 5.4% compared with June of last year. The latest sales came in below the 3.99 million annual pace economists were expecting, according to FactSet. Despite the pullback in sales, home prices climbed compared with a year earlier for the 12th month in a row. The national median sales price rose 4.1% from a year earlier to $426,900, an all-time high with records going back to 1999.


For all your Residential and Commercial Real Estate Sales & Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: jimhanson1@comcast.net

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce

For Sale Cape May County Real Estate

Posted in:General
Posted by James M. Hanson on July 25th, 2024 8:06 AMPost a Comment

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