Housing’s double whammy: low inventory, high prices
We got some indicators of the state of the all-important spring housing market Thursday, and it doesn’t seem great for some homebuyers right now.
New home sales fell in April by nearly 7%, and that decline was mostly in the low end of the market. At the same time, the median price of a new home rose nearly 9% from a year ago to $342,000.
Demand for new homes is highest among people in their 20s and 30s, but for those buyers, low inventory and high prices make for a challenging housing market.
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