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REALTOR Practitioners Point to Sustained Price Growth

By Ken Fears, Director of Regional Economics & Housing Finance, NATIONAL ASSOCIATION OF REALTORS®

Much has been made of the drop in existing home sales this spring. The weather played a role in the Northern Midwest and Northeast and affordability concerns had a coast-to-coast impact, particulalry in the Western markets. However, inventories remain low with the months supply averaging six months or less for 20 consecutive months. All of these factors contributed to the decline in sales, but it is difficult to sell homes when you don’t have homes for sale.

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