The National Federation of Real Estate Agents announces 5.77 million houses and apartments that have changed owners, while analysts were counting on 5.80 million.
Sales of existing homes fell in March in the United States, for the second month in a row, buyers being penalized by inflation to which is now added the rise in interest rates, and while the prices of houses and apartments are still on the rise.
In March, 5.77 million homes and apartments changed hands, at an annualized rate, according to figures released Friday by the National Federation of American Realtors (NAR), slightly less than the 5.80 million expected by consensus. of analysts.
This is 2.7% less than in February, and 4.5% less than in March 2021.
“The real estate market is beginning to feel the impact of sharply rising interest rates and high inflation weighing on purchasing power,” said Lawrence Yun, chief economist at NAR.
Interest for a 30-year fixed-rate loan averaged 4.17% in March, when it stood at 3.76% in February, and 2.96% over the year 2021.
And the rise has only just begun, since they reached 5.00% in mid-April, for the first time in more than 10 years.
US inflation, it is still accelerating, and reached 8.5% in March, the highest in more than 40 years, according to the CPI index.
“Yet homes are selling fast and price increases remain in the double digits,” said Lawrence Yun.
The median price thus reached 375,300 dollars, or 15% more than last year at the same time, up for 121e months in a row, or 10 years, unheard of.