U.S. Home Sales Slid in December
Thursday, January 25th, 2018 -- 7:59 AM
(AP) -U.S. home sales slid 3.6 percent in December, as rising prices and a declining number of available properties stifle purchases.The National Association of Realtors says sales of existing homes fell last month to a seasonally adjusted annual rate of 5.57 million units. Despite the monthly setback, sales totaled 5.51 million in 2017. That was the highest level since 2006, yet it marked a slight 1.1 percent gain from 2016 as fewer homes are coming onto the market.
Just 1.48 million homes were listed for sale at the end of December, a 10.3 percent drop over the past year. Home values are climbing faster than wages because of the shortage. The median home sales price increased 5.8 percent from a year ago to $246,800 in December.
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