Articles Tagged with ''housing inventory''

Improving economy can’t push home sales higher

Pending home sales see third consecutive annual decline
Pending home sales decreased annually in March, and are showing no signs of improvement as housing inventory fails to keep up with homebuyer demand. NAR explained healthy economic conditions are creating considerable demand for purchasing a home, but not all buyers are able to sign contracts because of the lack of choices in inventory.
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Trump tax cuts fail to provide boost to nation’s GDP

Low GDP reflects current “housing crisis”
Gross domestic product was a disappointment, shrinking in the first quarter despite the recent tax cuts passed at the end of 2017. One expert explained that the current slowdown reflects an ongoing housing crisis, and what can be done to reverse it.
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Existing home sales increase for second consecutive month

But continue to lag behind last year’s levels
Existing home sales increased in March for the second consecutive month, however as inventory shortages persist, home sales continue to fall below last year’s levels. One expert explained it’s hard to sell homes in large numbers when there’s so few available to buy, and that raises the question of whether the market has reached or surpassed its peak sales volume given current conditions.
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Spring home buying season begins: pending home sales rise

Low inventory levels still restricting market
The spring home buying season is already beginning as pending home sales reversed course and increased in much of the country in February. NAR explained the expanding economy and healthy job market are generating sizable homebuyer demand, but the minuscule number of listings on the market and its adverse effect on affordability are squeezing buyers and suppressing overall activity.
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