Shortage of New Homes for Sale?
The housing market is in need of new homes for sale, according to a report released today by the National Association of Realtors. It said that an appropriate balance between a rise in prices and new home construction could keep the current housing recovery on track. Existing home sales, the biggest chunk of the housing market, rose to a five-year high in 2012, though existing home sales for the month of December surprised economists and dropped 1 percent. Related story: 5 Economic Comparisons Between Inauguration 2013 and 2009 The drop in December sales was in part because of the lack of homes on the market. At the current sales pace there is a 4. 4-month supply of homes for sale, the lowest since May of 2005 — near the peak of the housing bubble. A six-month supply is considered normal.
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Organization: National Association of Realtors
Overall Sentiment: 0.104583
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The housing market is in need of new homes for sale, according to a report released today by the National Association of Realtors. It said that an appropriate balance between a rise in prices and new home construction could keep the current housing recovery on...
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Shortage of New Homes for Sale?
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