‘Frozen’ home sales

Plus, Maybe I should learn how to ski

͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  December 24, 2022 | Issue #73

Good morning! This holiday week we’re talking about home sales and heating bills — plus gawking at some amazing ski escapes.   ‘Frozen’ home sales Sam Island for Money ‘Frozen’: that’s how NAR Chief Economist Lawrence Yun described the housing market in a press release Wedneaday.  He was talking specifically about the pace of existing-home sales, which declined 7.7% in November and 35.4% from a year earlier to an annual rate of 4.09 million homes. Yun compared the environment to spring 2020, when home sales came to halt amid pandemic lockdowns and uncertainty. "It's quite an amazing situation that today's sales activity in November is essentially almost the same as that lockdown period," he said at a press conference. The only time in recent memory that sales were so low was November 2010, when the market was still recovering from the housing crash. Like the weather, sales have been cooling for months. November marked the 10th month in a row that sales declined. But — "The market may be thawing since mortgage rates have fallen for five* straight weeks," Yun added.  To find out where Yun and others see the housing market going in 2023 read: 5 Expert Predictions for the Housing Market in 2023 *By Thursday, Freddie Mac reported a sixth week of declining mortgage rates.   Heating bill help Money; Shutterstock Winter officially began this week, and my heating bill knows it. Luckily for some, several states are offering help. For example, officials in Connecticut are working on a plan to give residents $10 credits toward their electric bills each month from January through April. Sarah Hansen has the details. Related: How to Prepare Your Home for Winter and Lower Your Heating Bills   Maybe I should learn how to ski When it comes to travel, my philosophy is: Why be cold when you can be warm? But these stunning homes in skiing hotspots might just make me rethink that logic. Aspen, Colorado Asking price: $8.3 million Photo Credit: Christie’s International Real Estate Aspen Stowe, Vermont Asking price: $5.79 million Photo Credit: Chris Tagatac Hokkaido, Japan Asking price: ¥279 million (about $2 million) Photo Credit: H2 Christie’s International Real Estate   BTW — holiday edition Extreme (holiday) home makeover: The Wall Street Journal 8 homes from your favorite holiday movies: Architectural Digest Giant house bows are a thing now, apparently: Business Insider   Happy hunting, P.S. Share your real estate questions with me on Twitter @samsharf or via email at sam.sharf@money.com. P.P.S. Have a friend who loves real estate or is looking for a home of their own? Please forward them this email or send them to the Money Moves subscription page.   Money’s Essential Home Buying Resources: Winter 2022 On the hunt? Check out Money’s Mortgage Calculator, list of The Best Mortgage Lenders and look at the latest mortgage rates. Thinking of refinancing? Our list of The Best Mortgage Refinance Companies can help. You can also use our Mortgage Refinance Calculator or these refi tips. Key question: How much house can I afford?   This newsletter is free because Money earns a commission when you click or make purchases from the links in this email and on our site. We also receive compensation for some of the products and services featured in this message. Offers may be subject to change without notice. Learn more about how we make money. Privacy Policy • Advertise With Us • We're Hiring! To stop receiving these emails, unsubscribe or manage your email preferences. Copyright ©2022 Money Group, LLC. All rights reserved. Metro Office Park Calle 1, Building 7 Suite 204, Guaynabo, Puerto Rico 00968, USA