Core Insights - U.S. existing home sales saw a modest increase of 0.5% in November, reaching a seasonally adjusted annual rate of 4.13 million units, although this was below economists' expectations of 4.15 million units [10] - The housing market continues to face significant challenges, including a sluggish labor market and high prices, which are limiting consumer confidence and demand [10][6] Sales Performance - Home sales surged by 4.1% in the Northeast and increased by 1.1% in the South, while the Midwest experienced a decline of 2.0%, and sales in the West remained unchanged [10] - Year-over-year, home sales declined by 1.0% in November [3] Mortgage Rates and Economic Conditions - The average rate for a 30-year fixed mortgage dropped from 7.04% in mid-January to 6.19% by the end of November, but has since stabilized around 6.21% [4][10] - The unemployment rate rose to 4.6% in November, the highest in over four years, and annual wage growth is at its slowest since May 2021, contributing to economic uncertainty [4][10] Inventory and Pricing - The inventory of existing homes fell by 5.9% to 1.430 million units in November, the lowest level since March, although it was up 7.5% from a year ago [7][10] - The median existing home price increased by 1.2% year-over-year to $409,200, while the median days on the market rose to 36 from 32 [8][10] Market Dynamics - All-cash sales accounted for 27% of transactions, up from 25% a year ago, indicating a shift in buyer behavior [9][10] - First-time buyers represented 30% of sales, unchanged from the previous year, with a target of 40% needed for a robust housing market [10]

Core Insights - Sales of previously occupied U.S. homes increased by 0.5% in November compared to October, reaching a seasonally adjusted annual rate of 4.13 million units, but showed a decline of 1% year-over-year for the first time since May [1][2] - The national median sales price rose by 1.2% in November from a year earlier, reaching an all-time high of $409,200, marking 29 consecutive months of annual price increases [4] - A shortage of homes for sale, particularly in the affordable segment, continues to impact first-time homebuyers, who accounted for only 30% of sales last month, down from a historical average of 40% [7] Sales Performance - Existing home sales are down 0.5% year-to-date compared to the same period last year, with a forecast suggesting that 2025 may see a slight decline unless December figures improve [2][3] - Sales have remained around a 4-million annual pace since 2023, significantly below the historical norm of 5.2 million [5] Mortgage Rates and Affordability - The average rate on a 30-year mortgage fell to 6.17% at the end of October, the lowest in over a year, contributing to a slight boost in sales [5] - Affordability remains a significant challenge for many potential buyers, particularly first-time buyers lacking equity from previous homes [6] Inventory and Market Conditions - There were 1.43 million unsold homes at the end of November, a decrease of 5.9% from October but an increase of 7.5% from the previous year, indicating a tight inventory situation [9] - The current inventory represents a 4.2-month supply at the current sales pace, below the balanced market range of 5 to 6 months [9] Future Outlook - The chief economist of NAR forecasts a 14% increase in existing home sales for next year, which is more optimistic than other forecasts ranging from 1.7% to 9% [10]

Parts of the housing market are slowly waking up, and some lucky buyers are emerging victorious. Sales of existing homes rose for the third month in a row in November, as some buyers came back to the market. ...

Core Insights - Home sales in November increased for the third consecutive month, but 2025 sales are projected to be at a 30-year low [1] - Existing home sales rose by 0.5% from October to a seasonally adjusted annual rate of 4.13 million, attributed to lower mortgage rates [1][2] - Despite recent improvements, the housing market remains in a slump due to high prices, elevated mortgage rates, and consumer unease, with sales expected to be the lowest since 1995 [4] Sales Performance - Sales increased month-over-month in the Northeast and South, remained flat in the West, and decreased in the Midwest [5] - Year-over-year, home sales are down by 1% [5] - Housing inventory decreased by 5.9% to 1.43 million units compared to October, but showed a 7.5% improvement from November 2024 [5] Economic Influences - The health of the labor market and inflation trends will be critical for the housing market in the upcoming year [5] - A rebound in the housing market is contingent on a solid labor market, income growth, and economic resilience amid ongoing affordability challenges and elevated mortgage rates [6]

Core Insights - Sales of previously occupied U.S. homes increased by 0.5% in November compared to October, reaching a seasonally adjusted annual rate of 4.13 million units, despite a year-over-year decline for the first time since May [1] - Year-over-year sales fell by 1% compared to November of the previous year, slightly below the expected pace of 4.14 million units [2] - The national median sales price rose by 1.2% year-over-year to $409,200, marking 29 consecutive months of annual price increases, despite a sluggish housing market that began in 2022 [3] - Home sales have remained around a 4-million annual pace in 2023, significantly lower than the historical norm of 5.2 million annual sales [4]

Sales hit their highest level since February, after lower mortgage rates injected some fresh momentum into the long sluggish housing market. ...

北京商报讯（记者 王寅浩 李晗）12月18日，中指研究院发布数据显示，"十五五"时期全国城镇住房需 求总量约为49.8亿平方米。对应住房供给端，除市场化的商品住宅外，保障性住房及多套房业主出售非 自住房产等也会消化部分增量需求。综合按照70%-80%的转化比例，未来五年新建商品住宅销售面积年 均预计为7-8亿平米。 ...

Market Overview - Major stock indices experienced a decline, with the Nasdaq falling by 418.14 points (1.8%) to 22,693.32, the S&P 500 down by 78.83 points (1.2%) to 6,721.43, and the Dow decreasing by 228.29 points (0.5%) to 47,885.97 [2] - The decline was attributed to renewed weakness in stocks, particularly in the tech sector, highlighted by Oracle's significant drop [2] Company-Specific Developments - Oracle's stock plummeted by 5.4% to a six-month closing low following a report that its largest data center partner, Blue Owl Capital, would not support a $10 billion deal for a new facility in Michigan, although Oracle stated the project is still progressing [3] - Other major tech companies, including Nvidia, Broadcom, and Advanced Micro Devices, also experienced notable declines [3] Sector Performance - Semiconductor stocks faced severe losses, with the Philadelphia Semiconductor Index dropping by 3.8% [4] - The NYSE Arca Computer Hardware Index fell by 3.1%, indicating considerable weakness in computer hardware stocks [4] - Networking stocks also declined significantly, while sectors outside of tech, such as airlines, brokerages, and housing, showed notable weakness [4] Energy Sector - In contrast, energy stocks performed strongly as crude oil prices rebounded from their lowest levels since early 2021, following President Trump's order for a blockade of sanctioned oil tankers in Venezuela [5] International Markets - In the Asia-Pacific region, stocks mostly rose, with Japan's Nikkei 225 Index increasing by 0.3% and China's Shanghai Composite Index jumping by 1.2% [6] - European markets showed mixed results, with the U.K.'s FTSE 100 Index up by 0.9%, while the French CAC 40 Index fell by 0.3% and the German DAX Index decreased by 0.5% [6] Bond Market - Treasuries showed a lack of direction, closing roughly flat, with the yield on the benchmark ten-year note slightly increasing to 4.151% [7] Future Outlook - Trading on Thursday is expected to be influenced by a report on consumer price inflation and its implications for interest rates [8]

Antonio_Diaz / Getty Images The housing market is challenging in 2025, but some first-time homebuyers are finding a path into homeownership. Key Takeaways The median age for first-time buyers is 40, an all-time high. This signals how challenging the housing market is for those who want to enter for the first time. Family help and choosing lower-cost regions are giving some first-time homebuyers a path into homeownership. While first-time homebuyers have largely been priced out of the housing market ...

Core Insights - The U.S. housing market is showing signs of a downturn, with analysts predicting significant price corrections that could exceed 50% in certain areas, potentially worse than the 2008 crisis [1][2][3] - Recent data indicates that 53% of U.S. homes have lost value over the past year, with an average decline of 9.7%, marking the highest share of depreciating homes since 2012 [2][5] - The combination of rising mortgage rates, affordability issues, and increased inventory is contributing to a national decline in home prices [3][4] Housing Market Analysis - Melody Wright warns that the current conditions, while different from 2008, could still lead to a severe downturn in the housing market [2] - Parcl Labs reports that U.S. home prices have slipped below year-ago levels, with the last negative trend occurring in mid-2023 due to rapid Federal Reserve rate hikes [5] - The average home price has decreased by 1.4% over the past three months, reflecting a broader trend of declining values [4] Economic Factors - The sharp increase in mortgage rates in 2022 and 2023 has created an affordability shock, leading to decreased buyer demand and lower sales volumes [3] - Analysts suggest that inflated home prices from the pandemic era, combined with higher mortgage rates, are softening demand and pushing prices downward [4] Gold Market Insights - Gold has seen a significant price increase of over 60% in the past 12 months, reaffirming its status as a safe haven during economic uncertainty [6] - Ray Dalio emphasizes the importance of including gold in investment portfolios as a diversifier during challenging economic times [7][8]