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posted by: glodzio02, 16:31 - 24.10.2009
Messageboard » Public Boards » Glowne » Americans buy existing homes a

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16.03.2017, 07:06 offline quote 

of sales in a balanced housing market.

The supply crunch will likely get worse during the upcoming spring buying season, economists say, as demand typically rises by more than supply during that time.

"Relative to the number of households, the number of homes for sale is well through prior historic lows," said Ted Wieseman, an economist at Morgan Stanley. "The level of inventories could be a much bigger challenge moving into much higher sales in the spring and summer."

That, combined with higher mortgage rates,, could soon restrain sales.

"We are a bit less gloomy about housing than a couple of months ago but sales will not continue to rise at their recent pace," said Ian Shepherdson, chief economist at Pantheon Macroeconomics.

The bulk of the stronger buying is occurring among higher-priced properties, the NAR said. Sales among homes and condominiums priced at $100,000 and below fell nearly 10 percent in January compared with a year earlier. They rose slightly in the $100,000 to $250,cheap jordan shoes,000 bracket and jumped by roughly 20 percent in homes priced at higher levels.

Last year,jordans for cheap, low mortgage rates helped offset rising home prices. Yet now both are rising.

Mortgage rates have climbed since the presidential election. Investors are

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