Washington (awp / afp) – Sales of second-hand homes rose in the United States in November for the third month in a row, as buyers took advantage of a still favorable environment for mortgages.
Last month, 6.46 million homes and apartments changed ownership, at an annualized rate, 1.9% more than in October, according to figures released Wednesday by the National Federation of American Realtors (NAR).
The figures for November are nevertheless slightly lower than the expectations of analysts, who expected 6.50 million in sales.
“Determined buyers were able to find a good before home loans rose further in the next few months,” said Lawrence Yun, chief economist of NAR.
“Securing a fixed and consistent loan has motivated many consumers, increasingly worried by escalating rents over the past year,” adds Mr. Yun.
The economist is forecasting a hike in mortgage interest rates next year, assuming an average rate of 3.7% for 30-year fixed loans.
The total stock of properties available for sale at the end of November fell, with 1.11 million homes and apartments looking for a new owner, 9.8% lower than in October and 13.3% lower than in October. a year ago.
The median price for older homes stood at $ 353,900 in November, similar to the previous month. However, this is 13.9% more than last year.
“Supply chain disruptions for new home construction as well as labor market shortages have reduced the ability to increase inventory,” said Yun.
“Real estate prices continue to rise due to the historically low level of supply,” he adds.
26% of purchases were made by first-time buyers, 3 points less than in October and 6 points less than a year ago.
Households who buy a second home, or make a rental investment, represented 15% of transactions, 2 points less than in October but one point more than a year ago.
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