AGP Executive Report
Last update: an hour agoSlower Sales: U.S. home sales fell 8.7% year over year in October, while newly pending listings dropped 16.8%—their steepest annual decline since August 2023, Zillow reports. With mortgage rates above 7%, the typical monthly payment reached an estimated $2,004, up 12.8% from a year ago. First-Time Buyers: They made up just 22% of buyers, barely above last year’s record low, and their median age held at 40. A record 10% paid cash, often with help from inheritances, underscoring how high costs and limited affordable supply are delaying first-time ownership.
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