Press Release: CTO Realty Growth Announces First Quarter 2025 Earnings Release and Conference Call Information
The contract signing volume of second-hand houses in the USA has slightly rebounded, benefiting from improved weather and increased supply.
In February, the number of signed contracts for second-hand homes in the USA slightly rebounded from a record low, as improved weather and increased supply brought some optimism for the spring selling season.
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The USA housing market's leading indicator of new home sales is warming up, but inventory has reached the highest level since 2007, and house prices have dropped 1.5% year-on-year.
In February, new home sales in the USA increased by 1.8% month-on-month, compared to an expected increase of 3.5%, while the previous January value showed a significant drop of 10.5%. In February, the supply of newly built homes rose by 0.8%, reaching 0.5 million units, the highest level since 2007. The median sale price of new homes decreased by 1.5% compared to last year, falling to 0.4145 million dollars.
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In February, home sales in the USA far exceeded expectations, with prices reaching a new high and inventory being released.
In February, the USA's total sales of existing homes were annualized at 4.26 million units, significantly better than the expected 3.95 million units; existing home sales increased by 4.2% month-on-month. The median price of existing homes in February rose by 3.8% year-on-year, reaching 0.3984 million dollars, setting a record for February since records began. By the end of February, the inventory of homes for sale was 1.24 million units, the highest level for February since 2020, representing a 17% increase compared to February last year.
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