The U.S. housing market experienced a notable shift at the end of 2024, with new-home sales rising despite persistently high mortgage rates and affordability concerns. The most significant development, however, was the decline in median new-home prices, marking a potential turning point after years of soaring costs under the Biden administration.
Sales of new U.S. homes rose for the third straight month in December as high mortgage rates continued to decline, offering some relief for prospective homebuyers.
Home prices in the U.S. are sinking at the fastest monthly pace since the Great Recession, evidence that rising mortgage rates are rapidly slowing activity in the housing market.
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A growing rash of economists are warning the odds of a recession have increased amid a historic inversion of the yield curve—a telltale sign...