Key Highlights
Existing-home sales waned 1.0% in December to a seasonally adjusted annual rate of 3.78 million. Sales faded 6.2% from the previous year. The median existing-home sales price rose 4.4% from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases.
On an annual basis, existing-home sales (4.09 million) fell to the lowest level in nearly 30 years, while the median price reached a record high of $389,800 in 2023.
The inventory of unsold existing homes slumped 11.5% from the previous month to 1 million at the end of December, or the equivalent of 3.2 months' supply at the current monthly sales pace.
WASHINGTON (January 19, 2024) – Existing-home sales retreated in December, according to the National Association of REALTORS®. Among the four major U.S. regions, sales slipped in the Midwest and South, rose in the West and were unchanged in the Northeast. All four regions experienced year-over-year sales decreases.
On an annua ...

There are several types of real estate mortgages in the United States, each designed to meet the specific needs of borrowers.


Fixed-Rate Mortgage (FRM):
The interest rate remains constant throughout the loan term.
Monthly payments remain the same, providing predictability for budgeting.


Adjustable-Rate Mortgage (ARM):
The interest rate is variable and can change periodically based on market conditions.
Typically, there is an initial fixed-rate period followed by adjustments.


FHA Loans (Federal Housing Administration):
Insured by the Federal Housing Administration.
Often suitable for first-time homebuyers with lower down payment requirements.


VA Loans (Department of Veterans Affairs):
Available to eligible veterans, active-duty service members, and surviving spouses.
Usually offers favorable terms, including no or low down payment.


USDA Loans (U.S. Department of Agriculture):
Designed for borrowers in rural areas who meet income and property eligibilit! ...