Existing-home sales decreased by 8.4% in January, with month-over-month and year-over-year sales falling in all regions. Affordability improved for the seventh consecutive month, with the Housing Affordability Index rising to 116.5 in January. The median home price reached a new high at $396,800, with homeowners accumulating $130,500 in housing wealth since January 2020. Single-family home sales decreased by 9.0%, while condominium and co-op sales decreased by 2.6%. The Northeast, Midwest, South, and West regions all experienced decreases in sales, with the West seeing a 10.3% drop. Mortgage rates averaged 6.10% in January, down from 6.19% in December. Local MLS data is the most accurate source of sales and price information in specific areas. The NAR’s Pending Home Sales Index for January will be released on February 19, with Existing-Home Sales for February following on March 10 at 10 a.m. Eastern time. Existing-home sales are based on transaction closings from Multiple Listing Services, accounting for over 90% of total home sales. The median price is where half sold for more and half sold for less, providing a more typical representation of market conditions than average prices. Distressed sales, days on market, first-time buyers, all-cash transactions, and investors data are available from the NAR’s REALTORS® Confidence Index. 1. President Biden signs $1.9 trillion COVID relief package into law, including $1,400 stimulus checks for many Americans.

2. Johnson & Johnson’s one-shot COVID vaccine receives emergency use authorization from FDA, providing a third vaccine option in the fight against the pandemic.

3. Texas lifts mask mandate and allows businesses to operate at full capacity, despite concerns from health officials about potential spread of the virus.

4. GameStop stock prices surge as Reddit-fueled trading frenzy continues, causing volatility in the market and raising questions about regulation.

5. SpaceX successfully launches 60 Starlink satellites into orbit, expanding their internet service capabilities to more customers worldwide.

Read more at 1. Tesla’s stock price reaches new record high following announcement of strong Q2 earnings. – CNBC

2. Amazon reports 48% increase in revenue for Q3, exceeding analyst expectations. – Wall Street Journal

3. Apple unveils new iPhone 13 lineup with improved cameras and battery life. – Reuters

4. Facebook announces plan to rebrand as Meta, focusing on virtual reality and metaverse technologies. – CBS MarketWatch

5. Google to invest $1 billion in cybersecurity over the next five years to enhance protection against cyber threats. – Barchart: NAR Existing-Home Sales Report Shows 8.4% Decrease in