NEW YORK, Jan. 24 (Xinhua) -- U.S. existing-home sales fell in 2024 to the lowest level since 1995, the second straight year of anemic sales due to stubbornly high mortgage rates, according to local media.
"High costs related to homeownership sapped sales again," reported The Wall Street Journal on Friday. The average rate for a 30-year fixed mortgage has hovered between 6 percent and 8 percent since late 2022, making it prohibitively expensive for many Americans to buy homes at current prices, which hit record highs last year.
