Sales Of Existing Homes Slip As Inventories Tighten | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Sales Of Existing Homes Slip As Inventories Tighten

There was a 0.6 percent dip in sales of existing homes in March from February, the National Association of Realtors reports, because the supply of homes for sale has tightened as the number of would-be buyers is on the rise.

Its data suggest that sales ran at a 4.92 million annual rate, down from a 4.95 million pace the month before.

According to a statement from NAR chief economist Lawrence Yun, "buyer traffic is 25 percent above a year ago when we were already seeing notable gains in shopping activity." But, he adds, "in the same timeframe housing inventories have trended much lower, which is continuing to pressure home prices."

David Sloan, an economist at 4Cast Inc., tells Bloomberg News that "housing will remain a positive for the economy, but there should be some slowing in the next few months. The slowing is temporary. There is a shortage of supply. The housing market will revive."

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

After A Ho-Hum Summer, Hollywood Ramps Up For Fall

Until Guardians of the Galaxy came along, this year's box office figures were the worst in years. But critic Bob Mondello says there are bound to be some fall films that get pulses pounding again.
NPR

These 5 Crops Are Still Hand-Harvested, And It's Hard Work

Saffron, vanilla, palm oil, cacao and cottonseed oil are still picked by hand in some parts of the world. Sometimes that manual labor shows up in the price of the food; sometimes it doesn't.
NPR

Eric Cantor Joins Wall Street Investment Bank

Former House Majority Leader Eric Cantor is joining the boutique investment bank Moelis & Company. The Virginia Republican was unexpectedily defeated in a June primary.
NPR

Why Do We Blindly Sign Terms Of Service Agreements?

Audie Cornish talks with University of Chicago Law School professor Omri Ben-Shahar about terms of service agreements for software and websites.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.