- Housing News
- December 19, 2024
Homebuyers Continued to Snap Up Existing Homes, Boosting Sales
Homebuyers jumped back into the market in November, purchasing the most existing homes since March.
Clare Trapasso is the editorial director at New American Funding. She was previously the Executive News Editor for Realtor.com and a reporter for a Financial Times publication, the New York Daily News, and the Associated Press. She also taught journalism courses at several New York City colleges. She loves dogs, hiking and kayaking, and New York pizza.
Homebuyers jumped back into the market in November, purchasing the most existing homes since March.
This is the difference between mortgage rates and the annual percentage rate (APR) on a home loan.
The Fed cut interest rates in December, but mortgage rates are expected to make a more gradual descent.
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Sales of existing homes rose 2.9% in October compared to the same month a year ago, according to the National Association of Realtors.
Down payment assistance may help homebuyers purchase a home even if they don't have substantial savings.
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