Home sales fall as tight supply boosts prices

[workinclasszero]

Home sales fall as tight supply boosts prices
Wed May 24, 2017 | 10:43am EDT

U.S. home resales fell more than expected in April, weighed down by a chronic shortage of houses on the market that is keeping house prices elevated and sidelining prospective buyers.

The National Association of Realtors said on Wednesday existing home sales declined 2.3 percent to a seasonally adjusted annual rate of 5.57 million units last month.

With recent data showing a drop in homebuilding and a plunge in new home sales in April, weak home resales suggest residential investment will probably make a small contribution to gross domestic product in the second quarter.

https://www.reuters.com/article/us-usa-economy-housing-idUSKBN18K1W7

[DK504]

1. Sick of winning yet?

[workinclasszero]

2. They will be as Trump's hellscape budget ushers in the next Bush style depression

This time with no SNAP and added extra work requirements for disabled Grandma!