After last week’s report of a solid 4.4 percent jump in existing-home sales in March, signed contracts to purchase homes split the other way, inching backward 0.8 percent.
The reason, according to NAR Chief Economist Lawrence Yun, is simple: too few homes for sale to match the sizable demand this spring to buy a home. Properties are selling much faster than a year ago, prices continue to climb, and in most markets, lower priced homes have the stiffest competition.
I sat down with Lawrence to discuss his thoughts on current housing conditions and how two recent White House announcements could impact the housing market. Watch below:
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