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Shortage of cheaper houses stifles U.S. home sales

Shortage of cheaper houses stifles U.S. homes sales FILE PHOTO: A home for sale is seen in Santa Monica, California, U.S., March 21, 2017. REUTERS/Lucy Nicholson

Existing home sales, which make up about 90 per cent of US home sales, dropped 4.4 per cent from a year ago, the 14th straight annual decrease. According to the NAR, there was a 10 per cent drop from a year earlier in sales of houses priced at US$100,000 and below.

Existing home sales, which make up about 90% of U.S. home sales, dropped 4.4% from a year ago, the 14th straight annual decrease. According to the NAR, there was a 10% drop from a year earlier in.

Those cities and several others saw sharp declines in the number of homes for sale over the year ending in February: It’s surprising to see Midwestern housing markets tightening this way. The large.

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Tucson, where the median home price is $176,000, had the second-highest rate of failed sales, at 10.8 percent, up from 3.5 percent the year before. The problem of failed sales has been most acute for.

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Existing home sales, which make up about 90% of U.S. home sales, dropped 4.4% from a year ago, the 14th straight annual decrease. According to the NAR, there was a 10% drop from a year earlier in sales of houses priced $100,000 and below.

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Competition from cheaper. shortages should be released expeditiously to help meet market demand.” New dwellings accounted for almost 7 percent of the market last year, down from a high of 15.

Existing home sales, which make up about 90% of U.S. home sales, dropped 4.4% from a year ago, the 14th straight annual decrease. According to the NAR, there was a 10% drop from a year earlier in sales of houses priced $100,000 and below.

U.S. home sales declined in May-typically a frenzied time for the market-as the disconnect grows between the price of homes on the market and buyers. Rising mortgage rates have exacerbated the.

Shortage of cheaper houses stifles U.S. homes sales Reuters – By Lucia Mutikani WASHINGTON (Reuters) – U.S. home sales fell for a second straight month in April, weighed down by a chronic shortage of more affordable houses, the latest sign the economy was slowing after a temporary boost from exports and an inventory overhang in the first quarter.