(Just The News)—Sales of existing homes declined to the lowest level annually since 1995 while the median price reached a record high of $407,500 last year.
On a monthly basis, sales of existing homes climbed 2.2% in December to a seasonally adjusted annual rate of 4.24 million, the quickest pace since last February, according to most recent figures from the National Association of Realtors.
Total existing-home sales — which includes single-family homes, townhomes, condominiums and co-ops — gained 2.2% from November to a seasonally adjusted annual rate of 4.24 million in December.
“Home sales in the final months of the year showed solid recovery despite elevated mortgage rates,” NAR Chief Economist Lawrence Yun said. “Job and wage gains, along with increased inventory, are positively impacting the market.”
Housing inventory at the end of December was 1.15 million units, down 13.5% from November but up 16.2% from one year ago (990,000). Unsold inventory stood at a 3.3-month supply at the existing sales pace, down from 3.8 months in November but up from 3.1 months in December 2023.
The median existing-home price for all housing types in December was $404,400, up 6.0% from one year ago ($381,400).
“The median home price was elevated partly due to the upper-end market’s relative better performance,” Yun said. “Sales rose by 35% from a year ago for homes priced above $1 million, while sales fell for homes priced under $250,000.”
Real median household income was $80,610 in 2023, a 4% increase from the 2022 estimate of $77,540, according to the U.S. Census Bureau. It was the first statistically significant annual increase in real median household income since 2019.
The 30-year fixed-rate mortgage averaged 6.96% as of Jan. 23, that’s down from 7.04% one week ago but up from 6.69% one year ago, according to Freddie Mac.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.