More signs that the US housing market is reaching the bottom - existing home sales slipped to 4 million in January, down 0.7% from the previous month, according to the National Association of Realtors (NAR).
Sales have declined 37% from the 6.34 million homes sold in January 2022 and are unlikely to fall much further, according to NAR Chief Economist Lawrence Yun:
“Home sales are bottoming out... Inventory remains low, but buyers are beginning to have better negotiating power.”
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