Home Sales Drop in November

Mortgage101

Market conditions are combining to make homebuying less attractive, according to new data from the National Association of Realtors, as existing U.S.home sales made a significant drop in November. “Home sales are hurt by higher mortgage interest rates, constrained inventory and continuing tight credit,” said NAR chief economist Lawrence Yun in a statement. “There is a pent-up demand for both rental and owner-occupied housing as household formation will inevitably burst out, but the bottleneck Read more [...]

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