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Diana Olick, NBR, CNBC.com’s Posts
The median price of an existing home sold in May set a record high, but it’s not the price itself that is so stunning.
Buying a home used to be a good way to invest your money. Renting may now be a better option.
Even off-the-chart-demand can’t put every potential buyer in a home of their own.
Pending home sales had last slipped 0.8 percent in March, the National Association of Realtors reported last month.
Homeowners are staying put, and higher home values also mean they have more cash to take out of their homes.
Why are home sales falling? Because there are crazy few affordable homes for sale.
It’s the price tags of the homes for sale that are the issue.
The largest generation is finally starting to buy houses. The trouble is, there aren’t enough houses for sale to feed their appetite.
After slipping in April, home builder sentiment rose two points in May to the second-highest level since the recession.
The gains are slow and small, but mortgage volume is beginning to improve again, as more homebuyers sign on the dotted line.
“We now have 40,000 customers that don’t actually rent any space from us,” said Marcus Moufarrige, COO of Servcorp.
Homebuyers finally returned to the mortgage market after two weeks of weakening during the height of the spring housing season.
High prices and tight supply are taking the wind out of home sales, according to a report by the National Association of Realtors.
Demand from homebuyers fell 14 percent in March from February, according to Redfin.
Spring home buyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer.