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PPTY - Existing Home Sales Rebound With Falling Mortgage Rates In Early 2019
PPTY U.S. Diversified Real Estate
Since peaking in late November 2018, mortgage rates in the United States have fallen sharply, dropping by more than a percentage point from a peak of an average of 4.87% to 3.83% in June 2019.
For existing home sales, the falling interest rates have roughly coincided with a rebound in the U.S. real estate market. The following chart shows the estimated aggregate transaction values for existing home sales in the U.S. (for 41 states and the District of Columbia) from January 2016 through April 2019, which represents the most recent data available from Zillow's databases