House sales in the United States are unexpectedly rising in February

WASHINGTON (Reuters) – Current homes in the United States increased unexpectedly in February, as buying buyers rose to the market, but high economic uncertainty may limit more gains.

The National Association for Wars said on Thursday that home sales increased by 4.2 % last month to an annual average rate of 4.26 million units. The economists of Reuters expected that the reselling of the house will decrease to 3.95 million units.

The increase occurred despite the drop in suspended contracts, which lead to sales for a month, in December and January when the average fixed mortgage rate for 30 years hovering about 7 %. Sales were strengthened by the seasoned adaptation factor favored last month. They decreased by 1.2 % year on an annual basis in February.

“The home buyers are slowly entering the market,” said Lawrence Yun, Nar chief economist.

While the average fixed mortgage price for 30 years decreased to about 6.65 % by mid -March, economic expectations have been afraid.

Consumer and commercial feelings have often decreased in the policy of President Donald Trump, which are characterized by definitions of imports from the main commercial partners in the country. The unprecedented management campaign to reduce the federal government significantly through group shooting and deep spending discounts may also affect the housing market.

The Federal Reserve kept the interest rate to measure it during the night in the range of 4.25 % -4.50 % on Wednesday, although policymakers in the United States of Central indicated that they still expect to reduce borrowing costs by half a percentage by the end of this year.

The inventory of current homes increased by 5.1 % to 1.24 million units in February. The offer increased by 17 % from last year. The average price of the current house increased by 3.8 % from the previous year to $ 398400 in February, which is a record number for this month.

At the frequency of February sales, it will take 3.5 months to exhaust the current stock of current homes, up from 3.0 months a year. The offer is seen from four to seven months as a healthy balance between supply and demand.

Real estate usually remained on the market for 42 days last month, compared to 38 days ago. Buyers for the first time represent 31 % of sales, an increase of 26 % a year ago. Economists and real estate brokers say a 40 % stake for the strong housing market is needed.

Coash sales made all 32 % transactions, a decrease from 33 % in a year. Mr -made sales, including mortgage imprisonment, constituted 3 % of transactions, and crawls after hovering about 2 % in recent years.

(I participated in the reports of Lucia Motikani; edited by Paul Simao)