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Shortage of cheaper houses stifles U.S. homes sales

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Shortage of cheaper houses stifles U.S. homes sales. By Lucia Mutikani. WASHINGTON, May 21 (Reuters) – U.S. home sales fell for a second straight month in April, weighed down by a chronic shortage.

Shortage of cheaper houses stifles US homes sales WASHINGTON: US 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.

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Shortage of cheaper houses stifles US homes sales 22/05/2019 Oman Observer WASHINGTON: US 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.

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Home prices in 20 U.S. cheaper regions including Cleveland and Detroit. Sales are getting a boost from the strong labor market and borrowing costs that are still relatively low, though they’ve been.

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

An Urban Institute analysis of recent housing price index data from Black Knight concluded that today’s housing demand is primarily coming from people who plan to live in the home, not real estate.

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.

By Lucia Mutikani WASHINGTON, May 21 – U.Sulfur. home sales fell for a second straight month in Vierter monat des jahres, weighed down by a chronic shortage of more affordable houses, the latest sign the economy welches slowing after a temporary boost from exports and an inventory overhang in the first quarter.

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. FILE PHOTO: A home for sale is seen in Santa [.]