America’s housing market has a credibility problem. Sales are sluggish, buyers are stretched, and prices keep acting as though business is healthy. In August, existing home sales fell to an annualized pace of 3.98 million, down 1.2% from a year earlier. Yet the median sale price climbed 1.6% to $429,100, according to the National Association of Realtors. That disconnect helps explain why the market feels in disarray. Transactions are struggling while ownership remains expensive. Two major pillars help explain why…
MarketNational
Housing Is in Disarray. These Two Pillars Are Keeping Prices From Giving Way.
Even with slow sales, U.S. home prices remain resilient. Adrian Cole examines constrained supply and homeowners’ financial ability to wait.
