{"id":1315103,"date":"2022-02-19T18:52:54","date_gmt":"2022-02-19T23:52:54","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1315103"},"modified":"2022-02-19T18:53:08","modified_gmt":"2022-02-19T23:53:08","slug":"existing-home-sales-soar-as-buyers-panic-ahead-of-rate-hikes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/existing-home-sales-soar-as-buyers-panic-ahead-of-rate-hikes\/","title":{"rendered":"Existing Home Sales Soar as Buyers Panic Ahead of Rate Hikes"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexisting-home-sales-soar-as-buyers-panic-ahead-of-rate-hikes%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1315103&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/02\/GettyImages-1212653836-e1645208929731-638x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">Home buying picked up as interest rates started to rise in January ahead of the Federal Reserve\u2019s anticipated March rate hike.<\/p>\n<p>Existing-home sales increased by nearly 7 percent between December and January to a seasonally-adjusted, annual rate of 6.5 million, the National Association of Realtors said Friday.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Economists expected the pace of home sales to come in at 6.1 million, unchanged from the previous month.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The Fed is widely expected to raise its target interest rate in March, although investors have been divided about how big of a hike might be on the way. A week ago, derivatives prices implied 50 percent chance of a 50 basis point hike. On Friday, the odds of a hike that large hard dropped to just 17 percent.<\/p>\n<p>Housing inventory has been declining sharply. In January, inventory dropped to just a 1.6 month supply, a record low. A \u201cbalanced\u201d market is considered to have a four to six months supply.<\/p>\n<p>Prices of houses, like many other things, are soaring. The median sales price for an existing home was up 15 percent on an annual basis to $350,300. The supply of homes priced below $500,000 has cratered.<\/p>\n<p>\u201cThere are more listings at the upper end \u2013 homes priced above $500,000 \u2013 compared to a year ago, which should lead to less hurried decisions by some buyers,\u201d Yun said in the report. \u201cClearly, more supply is needed at the lower-end of the market in order to achieve more equitable distribution of housing wealth.\u201d<\/p>\n<p>The average rate for a 30-year fixed-rate mortgage was 3.92 percent as of Friday, up from 3.11 percent at the end of December.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home buying picked up as interest rates started to rise in January ahead of the Federal Reserve\u2019s anticipated March rate hike. Existing-home sales increased by nearly 7 percent between December &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1315103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1315103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1315103"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1315103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1315103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1315103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1315103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}