Articles Tagged with ''housing inventory''

NAR: Rising home prices push prospective buyers out of market

Low inventory persists in suppressing housing market
Home prices increased in the third quarter due to the continued low levels of housing inventory, keeping many potential homebuyers out of the housing market. While national family median income increased to $76,608 in the third quarter, due to rising home prices and mortgage rates, affordability is down.
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Is housing becoming a buyer’s market?

Sellers begin cutting back prices
The housing market has tilted sharply in favor of sellers over the past two years, but there are very early signs that the winds may be starting to shift ever-so-slightly. The latest data shows an increase in the number of homes with price cuts – but is it where buyers really need it?
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Opioid crisis now threatens housing supply

Could be holding back labor-force participation
Housing shortages continue to hold back home sales, keep Millennials from entering the housing market and even decrease affordability. Many different factors explain the lack of new homes coming on to the market, but the latest challenge could be the ongoing opioid crisis.
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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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