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New Home Sales
A new study finds out why the wealthy have been returning to city centers
High prices will exclude many first-time buyers from entering the market
On average, houses for sale in these cities saw a 19 percent drop in days on market year over year
Analysts forecast that lean supply won’t bulk up anytime soon
As sales fell, the housing index also experienced a dip of more than 1 percent
The NAR says current economic conditions are favorable for first-time buyers.
U.S. housing was affordable despite increasing prices nationwide
The readings far exceed what economists forecasted
Photo: Mark Moz/Flickr
Half of major metros are seeing increasing sales thanks to a rebound in the share of all-cash purchases, and a growing share of FHA buyers
Compared to any other age group, Younger Boomers bought the most multigenerational homes