Benzinga
  • 5 months ago
Existing homes in June declined due to high prices and mortgage rates, marking the slowest pace since 2010.
Transcript
00:00It's Benzinga and here's what's on the block.
00:03Existing home sales in June declined due to high prices and mortgage rates marking the
00:07slowest pace since 2010.
00:09The median existing home price surged over 4% year-over-year to a record high of nearly
00:13$420,000.
00:16High prices and persistently high mortgage rates are deterring many potential home buyers.
00:21Inventory levels are rising but still low overall, exacerbating high prices due to an
00:25ongoing high demand and low supply.
00:28Homes are staying on the market longer as buyers wait for interest rate cuts or demand
00:32fewer contingencies like inspections.
00:34For all things money, visit Benzinga.com.

Recommended

0:30
I
Up next
The Number Of Interest Rate Cuts Expected By The End Of 2024
Benzinga
0:45
Harris's $25K Homebuyer Plan
Benzinga
2:00
How Would A Rate Cut Affect The Real Estate Market?
Benzinga
0:42
New US Single-Family Home Sales Fall From Prior Month — But Are Up From A Year Ago As Mortgage Rates Decline
Benzinga
13:02
2008 All Over Again? Commercial Real Estate Bubble About To Burst
Benzinga
3:04
How End Of Month Buy And Sell Imbalances Effected Stock Movements
Benzinga
10:40
Are Interest Rates Going To Stay Higher For Longer Based On The CPI Data Released On Tuesday?
Benzinga
1:45
Are Housing Stocks Pointing Towards A Recession? - $TOL
Benzinga
3:49
Long Term Rates Sneaking Higher Everyday, Should Companies Be Concerned?
Benzinga
0:56
'Demand From Young Renters Remains High' As US Median Housing Rent Rises To $1,653, Highest Since 2022
Benzinga
5:17
Housing stocks Not As Quiet As People Think - $TPH $BZH $PHM
Benzinga
4:40
Ally Financial's Shares Drop After The CFO Reported Intensifying Credit Challenges Among Borrowers And Delinquencies Amid High Inflation And Living Costs
Benzinga
0:50
'Under Valued' Homes Offer Up To 23% Off–Here's Where You Can Save The Most, According To Redfin
Benzinga
3:44
Shares Of Insurance Companies Are Trading Lower While Floridians Experience Evacuation Orders As Cat 5 Hurricane Milton Approaches
Benzinga
2:34
Where is the strength and wekness in the market right now? - $ADBE $XOM $KRE
Benzinga
1:39
Mortgage rates drop to lowest levels since August
The Street
5:13
Is This A Buy The Dip Opportunity In The Stock Market?
Benzinga
14:28
Managing Your Wealth (and sanity) In An Election Year - Ryan Detrick, Carson Group
Benzinga
1:31
Why Is The Fed Still So Aggressive? - Jeremy Schwartz, Chief Investment Officer at WisdomTree
Benzinga
3:50
Warren Buffett's Berkshire Hathaway Is Betting On US Housing Market: These Are The Stocks He Bought, Should You?
Benzinga
1:40
Is Managing Volatility Really An Asset Class?
Benzinga
2:01
Affirm Upgraded At Wells Fargo On eComm Checkout Share
Benzinga
3:50
Don’t Risk Big Losses: Looking At Broad Market Sentiment For Risk Management
Benzinga
4:12
No Bid For Defensives and What Are The Bond Markets Telling Us? - Cameron Dawson, CFA, Chief Investment Officer, NewEdge Wealth
Benzinga
0:42
Investors Betting On 50 Basis Point Rate Cut: Expert Says Market Pressure Could Sway Fed's Decision
Benzinga