Analysts believe the approval of spot Bitcoin exchange-traded funds (ETFs) is a historic moment with substantial implications for long-term price appreciation, creating a major demand shock in the market ahead of the upcoming bitcoin halving event in April 2024. The approval is expected to offer both retail and institutional investors a familiar and regulated investment vehicle, significantly expanding access to the world’s largest cryptocurrency and leading to substantial incremental demand for Bitcoin via the newly approved spot ETFs.
Home sales in November increased slightly by 0.8% compared to the previous month, despite rising prices and higher mortgage rates. However, sales were still weak, down 7.3% from the previous year. The median price for existing homes reached a record high of $387,600, marking the fifth consecutive month of year-over-year price increases. The National Association of Realtors expects a turnaround in sales due to the recent decline in mortgage rates, but emphasizes that a significant increase in housing supply is needed to curb price appreciation.
CNBC's annual competitiveness study, America's Top States for Business, has ranked the top 10 states with the healthiest housing markets based on factors such as price appreciation, housing starts, foreclosure rates, and affordability. The states offering the best value for buyers are Alabama, Wisconsin, Ohio, New Jersey, Indiana, Georgia, North Carolina, Maine, South Carolina, and Florida. These states have seen varying levels of price appreciation, foreclosure rates, and affordability, with Florida topping the list as the strongest housing market in the country.
