Existing Home Sales Lag Behind New Homes
Though many new-home builders posted a boost in sales, data from the NAR reported that existing-home sales “registered its slowest pace in nine months,” The Wall Street Journal's Kris Hudson reports.
According to Hudson, existing-home sales lag behind because, as some economists and analysts note, the inventory of existing homes listed for sale is low. The NAR reported a 4.7-month supply of existing homes for sale in January.
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