Homebuyer demand suddenly falling off as inventory keeps shrinking

Homebuyer demand suddenly falling off as inventory keeps shrinking

The story has been the same for a while — high buyer demand plus a short supply of homes for sale equals higher home prices and plenty of buyer frustration.

It may be the strongest seller's market ever, but buyer frustration is now taking its toll. Some would-be shoppers are even choosing to sit the spring market out.

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Home Sales and Values Up, Mortgage Rates Down

Home Sales and Values Up, Mortgage Rates Down

There was more good news than not-so-great news to be culled from the morning’s housing data.

First, the good news: Sales of new single-family houses during February were at a seasonally adjusted annual rate of 592,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This level is 6.1 percent higher than the revised January rate of 558,000 and is 12.8 percent above the 525,000 estimate from February 2016.

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