WASHINGTON — February marked the fourth straight month ofslowing sales of new homes to an already high-inventorymarketplace. The Commerce Department reported a drop of 1.8% forlast month.
The available for sale inventory of homes (both new and existinghomes) is now almost a ten-month supply, the longest term in morethan two decades of record keeping. Housing officials cite thehigher number of foreclosed homes entering the market to be afactor.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
