US home sales post second straight monthly drop; house prices accelerate
Existing home sales unexpectedly fell in April as higher mortgage rates and house prices weighed on demand, dealing another setback to the housing market.
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Existing home sales unexpectedly fell in April as higher mortgage rates and house prices weighed on demand, dealing another setback to the housing market.
Though the report from the National Association of Realtors on Wednesday showed inventory increasing last month to a 2-1/2-year high entry-level homes remained scarce, accounting for the second straight monthly decline in sales.
USA-ECONOMY/ (WRAPUP 2, PIX):WRAPUP 2-US home sales post second straight monthly drop; house prices accelerate
Sales of previously occupied U.S. homes sank last month, pushed down by high mortgage rates and rising prices.
SOMERTON – Expanding access to homeownership and rental housing for low-income families is the goal of Yolanda Galindo, the new executive director of Housing America Corporation (HAC).