US Housing Market , Sees Sales of New Homes , Plummet in Several States.
'Newsweek' reports that sales of new homes
across the Northeast and Midwest plummeted
in February, dragging the overall housing
market down across the country.
The news comes at a time when elevated
mortgage rates have already dissuaded
many buyers from purchasing property.
In the Northeast, sales of single-family
homes dropped 31.5%, while the Midwest
saw a more modest decline of 2.4%. .
Sales in the South and West saw
positive increases, with 3.7% and 2.3%,
respectively for the month.
Sales in the South and West saw
positive increases, with 3.7% and 2.3%,
respectively for the month.
According to analysts,
the disappointing numbers
are the result of high mortgage rates.
Rising mortgage
rates subdued
activity in February, Yelena Maleyev, senior economist for KPMG, via 'Newsweek'.
As a result of high mortgage rates, homebuyers
remain reluctant despite lower prices, which
dropped to their lowest level since June 2021. .
As a result of high mortgage rates, homebuyers
remain reluctant despite lower prices, which
dropped to their lowest level since June 2021. .
According to government data, the median
sale price for a single-family home fell by
over $14,000 to reach around $400,000. .
Sales were spurred by a rise
in inventory, as 1.07 million
homes were available for sale
at the end of the month, Yelena Maleyev, senior economist for KPMG, via 'Newsweek'.
The rise in inventories was not
enough to offset the upward
pressure on existing home values;
the median sales price rose
to $384,500, the highest
since November 2023, Yelena Maleyev, senior economist for KPMG, via 'Newsweek'
Credit: Wibbitz Top Stories Duration: 01:31Published
These Are the 2024 Sweet 16 , March Madness Teams.
These Are the 2024 Sweet 16 , March Madness Teams.
64 NCAA Division I teams have been cut
down to the Sweet 16, CBS News reports. .
The teams that will advance in the
March Madness tournament are:.
North Carolina Tar Heels
Iowa State Cyclones
NC State Wolfpack
Gonzaga Bulldogs.
North Carolina Tar Heels
Iowa State Cyclones
NC State Wolfpack
Gonzaga Bulldogs.
North Carolina Tar Heels
Iowa State Cyclones
NC State Wolfpack
Gonzaga Bulldogs.
North Carolina Tar Heels
Iowa State Cyclones
NC State Wolfpack
Gonzaga Bulldogs.
Arizona Wildcats
Illinois Fighting Illini
Tennessee Volunteers
Purdue Boilermakers.
Arizona Wildcats
Illinois Fighting Illini
Tennessee Volunteers
Purdue Boilermakers.
Arizona Wildcats
Illinois Fighting Illini
Tennessee Volunteers
Purdue Boilermakers.
Arizona Wildcats
Illinois Fighting Illini
Tennessee Volunteers
Purdue Boilermakers.
Marquette Golden Eagles
Creighton Bluejays
Duke Blue Devils
Clemson Tigers.
Marquette Golden Eagles
Creighton Bluejays
Duke Blue Devils
Clemson Tigers.
Marquette Golden Eagles
Creighton Bluejays
Duke Blue Devils
Clemson Tigers.
Marquette Golden Eagles
Creighton Bluejays
Duke Blue Devils
Clemson Tigers.
Alabama Crimson Tide
San Diego State Aztecs
Houston Cougars
University of Connecticut Huskies.
Alabama Crimson Tide
San Diego State Aztecs
Houston Cougars
University of Connecticut Huskies.
Alabama Crimson Tide
San Diego State Aztecs
Houston Cougars
University of Connecticut Huskies.
Alabama Crimson Tide
San Diego State Aztecs
Houston Cougars
University of Connecticut Huskies.
Four teams remain in
each regional bracket.
Four teams remain in
each regional bracket.
In the East:, No. 1 seed Connecticut vs. No. 5 San Diego State
No. 2 seed Iowa State vs. No. 3 seed Illinois.
In the East:, No. 1 seed Connecticut vs. No. 5 San Diego State
No. 2 seed Iowa State vs. No. 3 seed Illinois.
In the East:, No. 1 seed Connecticut vs. No. 5 San Diego State
No. 2 seed Iowa State vs. No. 3 seed Illinois.
In the East:, No. 1 seed Connecticut vs. No. 5 San Diego State
No. 2 seed Iowa State vs. No. 3 seed Illinois.
In the West:, No. 1 seed North Carolina vs. No. 4 seed Alabama
No. 2 seed Arizona vs. No. 6 seed Clemson.
In the West:, No. 1 seed North Carolina vs. No. 4 seed Alabama
No. 2 seed Arizona vs. No. 6 seed Clemson.
In the West:, No. 1 seed North Carolina vs. No. 4 seed Alabama
No. 2 seed Arizona vs. No. 6 seed Clemson.
In the West:, No. 1 seed North Carolina vs. No. 4 seed Alabama
No. 2 seed Arizona vs. No. 6 seed Clemson.
In the South:, No. 1 Houston vs. No. 4 Duke
No. 2. seed Marquette vs. No. 11 seed NC State.
In the South:, No. 1 Houston vs. No. 4 Duke
No. 2. seed Marquette vs. No. 11 seed NC State.
In the South:, No. 1 Houston vs. No. 4 Duke
No. 2. seed Marquette vs. No. 11 seed NC State.
In the South:, No. 1 Houston vs. No. 4 Duke
No. 2. seed Marquette vs. No. 11 seed NC State.
In the Midwest:, No. 1 seed Purdue vs. No. 5 seed Gonzaga
No. 2 seed Tennessee vs. No. 3 seed Creighton.
In the Midwest:, No. 1 seed Purdue vs. No. 5 seed Gonzaga
No. 2 seed Tennessee vs. No. 3 seed Creighton.
In the Midwest:, No. 1 seed Purdue vs. No. 5 seed Gonzaga
No. 2 seed Tennessee vs. No. 3 seed Creighton.
In the Midwest:, No. 1 seed Purdue vs. No. 5 seed Gonzaga
No. 2 seed Tennessee vs. No. 3 seed Creighton.
Sweet 16 games will take
place from March 28-31
Credit: Wibbitz Top Stories Duration: 01:31Published
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