Because of the historic inventory shortage, competition for homes has been steep, and prices have been rising sharply in markets across the country as a result. But according to a recent report, it
Existing Home Sales Bounce Back After Months Of Decline
Historically low inventory and quick price growth stalled home sales in the US for a few months, but new data shows the market is bouncing back.
NAR Chief Economist Lawrence Yun credits the booming economy and nationwide job growth for the increase in existing home sales. And while low inventory (and the resulting rising prices) are still an issue, the market is becoming more buyer-friendly; total housing inventory rose 4.6% in February to 1.59 million existing homes for sale. Also, according to a recent article from Realtor.com, new construction should start to hit the market towards the middle of the year.
If you've been interested in purchasing a home within recent months, but got discouraged by the lack of listings, now might be a good time to call your REALTOR® and dip your toes back into the water.
Edward is a Massachusetts native with an extensive background in the entertainment and convention services industries, where he honed his skills in promotion, production and performance. That path led....
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