High mortgage rates and elevated home prices caused a significant decline in home sales in January, with pending sales dropping 4.6% from December and 5.2% from January 2024, marking the lowest level since tracking began in 2001. Lawrence Yun, NAR’s chief economist, suggested that cold weather may have played a role in the decrease, particularly in the South, where sales fell the most. Despite a 17% increase in inventory compared to last year, home prices remain high nationally, impacting affordability and contributing to the sales decline.
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Egypt, Tunisia, Algeria call on Libyan parties to cease escalation, hold simultaneous elections – Middle East Monitor
Summary Egypt, Tunisia, and Algeria called for an immediate end to the escalation in Libya and urged for simultaneous parliamentary and presidential elections during a trilateral meeting in Cairo. The foreign ministers emphasized the need for restraint among Libyan parties amid renewed clashes in Tripoli, highlighting the importance of advancing Libya’s political process and unifying institutions. This meeting aims to reactivate a previously suspended tripartite coordination mechanism to support peace and stability in Libya, with...
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