Realtor Michael Mahoney in Boston with eXp Realty
Michael Mahoney
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Existing-Home Sales Plunge 6.4%, Mortgage Rates Blamed

December Real Estate Snapshot

Following two consecutive months of increases, existing-home sales dialed back at the end of 2018 and economists pointed to higher mortgage rates for most of last year as one of the main culprits. However, they’re optimistic a turnaround will be in sight for home sales in the spring season, particularly given that mortgage rates have started to decrease in recent weeks.

Total existing-home sales—which are completed transactions that include single-family homes, townhomes, condos, and co-ops—dropped 6.4 percent in December compared to November. Sales are now down 10.3 percent from a year ago, according to the National Association of REALTORS®’ existing-home sales report, released Tuesday.

You can see the full article here on Realtor.org

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One Response to “Existing-Home Sales Plunge 6.4%, Mortgage Rates Blamed”

  1. January 25, 2019 at 3:04 am, Massachusetts Association of Realtors Cite Sales for 2018 off by 2% | Realtor Michael Mahoney in Boston with eXp Realty said:

    […] In all of my previous blog posts, all indicators show that interest rates will remain low. The did spike up at the end of 2018 and were blamed for some of the sales. You can read the blog post titled “Existing-Home Sales Plunge 6.4%, Mortgage Rates Blamed” here […]

Reviews

5suzannechapman1208

I selected Mike after having a very unsuccessful experience with a previous broker. He had excellent ideas in helping to sell my house and continued to advertise it with a fresh perspective. His experience helped in a number of ways and I only wish we had... (more)

5goodlife99

This is the second property I have sold in Weymouth MA with Mike as my broker. He research the area and give you all the information you need to decide what to list your property for, so it sells timely. He also helps review and negotiate all offers and is... (more)

5SullyLemmons

We had been trying to sell our condo for well over a year and decided to give Mike a shot at it as he came well recommended. It was not easy for him but he persisted and had success. Even though it wasn't a big sale or profit for him, he acted as though it... (more)

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