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The price of second-hand housing in the US suffers the biggest drop since 2012

The median sale price of second-hand houses in the United States stood at 375,700 dollars (342,843 euros) in March, which represents an annual decrease of 0.9%, the highest since January 2012 and the second consecutive drop in the price. cost of acquiring a used home, after 131 consecutive months of increases.

According to data from the National Association of Realtors (NAR), existing home sales were down 2.4% in March from the previous month and 22% from March of last year, to an annualized total of 4.44 million.

On its side, the inventory of used homes for sale at the end of March was 980,000 units, 1% more than in February and 5.4% more than a year ago, which is equivalent to a demand of 2.6 months at current sales rate.

Properties were typically on the market for 29 days in March, less than the 34 days in February, but longer than the 17 days in March 2022. 65% of homes sold in March were on the market. market less than a month.

Likewise, first-time homebuyers were responsible for 28% of sales in March, up from 27% in February but down from 30% in March 2022.

“Housing prices continue to rise in regions where jobs are being added and are relatively affordable,” NAR chief economist Lawrence Yun said. “However, the most expensive areas of the country are adjusting to lower prices,” he added, also noting the impact of the sector’s sensitivity to changes in mortgage rates.

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