Chinese investors were the most active buyers of US real estate last year among foreigners — spending a record $6.1 billion on homes mainly in Florida and California, according to the National Association of Realtors.
Newsfeed: Chinese spent $6.1B on US real estate last year Read More »
The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers.
Existing-home sales dropped for the fifth straight month in June, according to the National Association of REALTORS®. Three out of four major U.S. regions experienced month-over-month sales declines and one region held steady. Year-over-year sales sank in all four regions.
Newsfeed: Existing-Home Sales Slid 5.4% in June Read More »
On the heels of ugly homebuilder sentiment and tumbling single-family home starts and permits, analysts expected existing home sales to extend their recent decline with a 1.1% MoM drop in June.
Newsfeed: US Existing Home Sales Plunge In June As Affordability Collapses Read More »