The National Association of Home Builders is reporting this week higher mortgage rates and home prices, as well as increased construction costs all contributed to lackluster new home sales in February 2023.
According to the National Association of Realtors, U.S. existing-home sales reversed a 12-month slide in February 2023, registering the largest monthly percentage increase since July 2020. Month-over-month sales rose in all four major U.S. regions. All regions posted year-over-year declines.
The Miami Association of Realtors reported this week that greater Palm Beach County total residential sales for February 2023 decreased 29.9% year-over-year, from 2,558 to 1,794.
According to CoreLogic's latest Single-Family Rent Index, U.S. annual single-family rent growth continued to slow year over year in January 2023, declining for the ninth straight month to 5.7%.