Home Sales Slumped in December!

Low inventories of existing homes for sale on the market continued to be a thorn in everyone's side. REALTORS®. December existing home sales fell 3.6% from November to an annual rate of 5.570 million units, below the 5.70 million expected. Declines were seen across the board. Inventories of homes for sale on the market fell to a 3.2 month supply, well below the usual 6 month supply. Housing inventories were down 10.3% from a year ago.

Buyers in December saw very few homes according to the National Association of

Sales of new homes didn't fare much better in December either. New Home Sales fell 9.3% in December from November, the Commerce Department reported. This was the largest monthly decline in nearly a year and a half.

Mortgage Bonds were able to stabilize in recent days after their sharp decline. Home loans rates remain attractive and near historic lows.

If you or someone you know has questions about selling, buying, home loans or rates, we are always happy to help!

San Diego Realtors - 619-920-8794