US Housing Market Shrinks: Rising Inventory and Declining Sales Continue
Z Zillow Group Inc
$28.98 -5.51%
View chart & analysis → - 1Realtor.com reported that active housing inventory reached 183,500 units in October, a 7.4% increase from the previous year.
- 2According to Zillow, new pending sales in October decreased by 16.8% compared to the previous year.
- 3Zillow estimated the monthly mortgage payment for a typical US home to be $2,004 in October.
So what's the key point?
The number of homes listed for sale in the US increased, but the number of new home sales agreements decreased. The housing market is shrinking because there are fewer people looking to buy homes.
Source CNBC · View original ↗
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