• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Thursday, September 28, 2023
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home US News US Business

March home sales drop 8.5% as sellers take properties off market

Loud Silence Staff by Loud Silence Staff
April 21, 2020
in US Business
0
March home sales drop 8.5% as sellers take properties off market
2
SHARES
13
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

[ad_1]

Prospective home buyers arrive with a realtor to a house for sale in Dunlap, Illinois.

Daniel Acker | Bloomberg | Getty Images

Sales of existing homes fell a wider-than-expected 8.5% in March compared with February to an annualized pace of 5.27 million units, according to the National Association of Realtors’ seasonally adjusted index.

Sales were just 0.8% higher than in March 2019. 

These sales figures are based on closings that represent contracts signed mostly in late January and February, before the coronavirus shut down so much of the economy.

“We saw the stock market correction in late February,” said Lawrence Yun, chief economist at the NAR. “The first half of March held on reasonably well, but it was the second half of March where we saw a measurable decline in sales activity.” 

Yun indicated sales could fall as much as 30% to 40% in the coming months. 

Regionally, sales dropped across the nation but hardest in the West, down 13.6% month to month. Sales fell 9.1% in the South, 7.1% in the Northeast and 3.1% in the Midwest. 

The supply of homes for sale fell a sharp 10.2% annually. Toward the end of the month, some sellers delisted their properties, not wanting potential buyers touring their homes in person. Other measures showed a sharp drop in the number of new listings in March, reflecting fear in the market among both buyers and sellers.

“Homes are still selling fast, we just don’t have enough inventory,” added Yun, saying that real estate agents do report some interest and have ramped up virtual tours as well as live virtual showings.

Price growth was still strong in March, with the median existing home price hitting $280,600, an 8% annual increase. 

“Going forward, we’ve seen both homebuyers and sellers report feeling less confident and many are making adjustments to the process,” said Danielle Hale, chief economist at realtor.com. “Already, sellers are getting less aggressive with asking price growth, and we’re seeing roughly half as many new listings come up for sale this year versus last year.”

Fewer home sales over the coming months will likely mean slower price growth, and in some of the harder-hit markets, where hospitality and leisure drive the local economies, prices could fall.  

[ad_2]

This content first appear on cnbc

You might also like

Billionaire Mark Zuckerberg loses $5.9bn in a day as Facebook faces rare outage, whistleblower testimony

Global cases top 3.6 million, Trump says more deaths inevitable

Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition

Tags: business newsCoronavirus: BusinessHousingMortgagesReal estateU.S. Economy
Previous Post

COVID-19 Drug Testing: Where We Stand

Next Post

SA can ‘kiss lockdown goodbye’ if cooked food is allowed to be sold – Dlamini-Zuma

Loud Silence Staff

Loud Silence Staff

Related Posts

US Business

Billionaire Mark Zuckerberg loses $5.9bn in a day as Facebook faces rare outage, whistleblower testimony

by News Reporter
October 5, 2021
Global cases top 3.6 million, Trump says more deaths inevitable
US Business

Global cases top 3.6 million, Trump says more deaths inevitable

by Loud Silence Staff
May 6, 2020
Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition
US Business

Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition

by Loud Silence Staff
May 6, 2020
US Business

United Airlines service workers sue over schedule cuts after airline got federal coronavirus aid

by Loud Silence Staff
May 5, 2020
Disney reports quarterly earnings, and TikTok gains more influence
US Business

Disney reports quarterly earnings, and TikTok gains more influence

by Loud Silence Staff
May 5, 2020
Next Post
SA can ‘kiss lockdown goodbye’ if cooked food is allowed to be sold – Dlamini-Zuma

SA can 'kiss lockdown goodbye' if cooked food is allowed to be sold - Dlamini-Zuma

Recommended

Covid-19 Is The Enemy – Nana

April 27, 2020
NJ TRANSIT introduces access to COVID-19 testing to employees – Security and Safety

NJ TRANSIT introduces access to COVID-19 testing to employees – Security and Safety

May 1, 2020

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • ShowBiz
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

Sarkodie Insults #JulorbiHouse Protestors, Calling them Clouts Chaser
Ghana News

Sarkodie Insults #JulorbiHouse Protestors, Calling them Clouts Chaser

September 24, 2023
NPP Thugs Rob Citizens Trying to Get Registered for their Voter Card In Accra
Ghana News

NPP Thugs Rob Citizens Trying to Get Registered for their Voter Card In Accra

September 18, 2023
MIREKU DUKER’s MINE CAVES IN AND CLAIMS OVER 40 LIVES IN TARKWA
Ghana News

MIREKU DUKER’s MINE CAVES IN AND CLAIMS OVER 40 LIVES IN TARKWA

September 14, 2023
Akufo Addo Has Directed the Police Intelligence Unit to Ransack the Homes of Ato Forson, Bernard Mornah, and Rex Omar
Ghana News

Akufo Addo Has Directed the Police Intelligence Unit to Ransack the Homes of Ato Forson, Bernard Mornah, and Rex Omar

September 10, 2023
NDC COMMUNICATOR WORKS AGAINST THE NDC ON THE NPP BOANKRA $33.3 MILLION SCANDAL
Ghana News

NDC COMMUNICATOR WORKS AGAINST THE NDC ON THE NPP BOANKRA $33.3 MILLION SCANDAL

September 2, 2023
NDC COMMUNICATOR WORKS AGAINST THE NDC ON THE NPP BOANKRA $33.3 MILLION SCANDAL
Ghana News

NDC COMMUNICATOR WORKS AGAINST THE NDC ON THE NPP BOANKRA $33.3 MILLION SCANDAL

September 1, 2023

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.