Archive for August 25th, 2016

Aug 25 2016

The Current State of the Housing Market and How Millennials Will Make a Big Difference

Home refinancing

According to Reuters, existing U.S. home sales declined more than expected in July after four straight months of steady increases. However, the rise in prices indicated that the housing market is still going strong.

Sales declined 3.2%, reaching an annual rate of 5.39 million units in July. The National Association of Realtors (NAR) blames the drop on the lack of available inventory.

Joel Naroff, chief economist at Naroff Economic Advisers in Pennsylvania said, ?Without a large choice, it is hard for people looking for homes to find something they want and that seems to be the problem facing the housing market.?

The NAR has reported their belief that the slump in sales is only temporary since the tightening labor

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