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November Home Sales Post Biggest Annual Gain Since 2021 -- WSJ
USA existing home sales unexpectedly reached the largest year-on-year increase in three years, with home prices accelerating to new highs, and investors are adopting a wait-and-see attitude.
In November, existing home sales in the USA exceeded expectations, surpassing the annualized rate of 4 million units for the first time in six months, indicating that homebuyers are accepting mortgage loan rates above 6%. The Mortgage Bankers Association expects that mortgage loan rates will remain above 6% for at least the next two years. The median sales price for existing homes rose by 4.7% year-on-year in November, reaching $406,100, setting a record high for November.
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The construction of single-family residences in the USA rebounded in November, but policy uncertainty may become a new obstacle.
A report released by the USA Department of Commerce on Wednesday shows that as the impact of the hurricane gradually weakens, there is a rebound in single-family Residence construction in the USA in November.
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December Homebuilder Confidence Holds Steady; Sales Optimism Hits Nearly Three-Year High
The confidence of home builders in the USA remains stable in December.
The National Association of Home Builders (NAHB) data from the USA shows that the NAHB/Wells Fargo & Co Housing Market Indices for December, which reflects builder confidence, remains unchanged at 46, which is the same as in November, but slightly lower than the market expectation of 47 due to high home prices and mortgage rates offsetting market optimism regarding improvements in the regulatory business environment in 2025.
U.S. Home Builders End Year With Hope for New Govt, But Concern Over High Rates