For more than 10 years, American housing prices have been steadily increasing

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According to the monthly report, compared to the previous month, the number of used apartments sold fell by 7.7 percent seasonally and by 35.4 percent year-on-year to 4.09 million in November. . Analysts estimated the decline in the month at 5.4 percent and the number of transactions at 4.20 million before the release of the data.

Second-hand home sales fell to a 12-year low last month, excluding May 2020.

The median price of apartments sold was 370.7 thousand dollars in November, 3.5 percent higher than a year before, while an increase of 6.6 percent year on year was measured a month ago.

The price of used homes increased in all regions and increased for 129 consecutive months on an annual basis. This is the longest uninterrupted period of growth in the US real estate market.

Apartments offered for sale were sold in an average of 24 days in November, compared to 21 days a month ago and 19 days in September.

The number of homes for sale decreased for the fourth consecutive month to 1.14 million, which is equivalent to 3.3 months of inventory at current sales volumes.

When evaluating the data, Lawrence Yun, the chief economist of NAR (National Association of Realtors), said that market activity froze in November and recalled the conditions experienced during the coronavirus.

The most important factor behind the decline was the rapid rise in mortgage interest rates. At the beginning of the year, the average interest rate for a 30-year mortgage loan was slightly higher than 3 percent, and by December it had risen to 6.31 percent.

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