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HOMZ - Home Sales Sag For 3rd Month; New Listings And Inventories Rise
Hoya Capital Housing
As 2.1 million mortgages are still in forbearance programs, investors have flooded the housing market, including individual buyers grabbing a second home in crazy bidding wars.
But sales have sagged for the third month in a row, while new listings and supply have started to rise from very low levels, and a lot more is coming.
The median price for existing homes spiked by 19.1% year-over-year to $341,600, which is up 48% from five years ago in April 2016.