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Shortage of cheaper houses stifles sales of US homes

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(Reuters) – An acute shortage of affordable homes in the United States. sales data for April. A further breakdown of the April data showed the inventory of existing homes had declined for 35.

The bulk of the houses that are getting built are priced at more than $300,000; last month the median price of all new home sales was $395,000, about $150,000 more than existing houses.

Shortage of cheaper houses stifles sales of US homes, Real. – 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. The Realtors group said there was strong demand in this market segment, but not enough homes for sale.

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.

A house is a big financial commitment. There’s a down payment, mortgage payments, and less obvious costs: insurance, upkeep, realtor and HOA fees. These costs are currently exacerbated by a shortage ..

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. The unexpected drop in sales reported by the National Association of Realtors on Tuesday came on the heels of.

Shortage of cheaper houses stifles U.S. homes sales. investing.com – 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.

U.S home sales fell more than expected in June as a persistent shortage of properties pushed prices to a record. up from 1.91 million in May and unchanged from a year ago. The median existing house.

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WASHINGTON (Reuters) – U.S. home sales. costs and house prices as well as strengthening wage growth have improved affordability, land and labor shortages are making it difficult for builders to.

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