I was glad to read that pending home sales jumped 6.1% in May, and not surprised to
learn they were down 5.2% from the same time last year. However, the jump in pending sales is evidence
that the housing market may have shrugged off a recent slump.
First-time homebuyers are limited by tight credit and declining
affordability. Also, this group accounted for only 27% of existing-home sales
in May (generally they’ve comprised about 40%).
Apartment rents are expected to rise 8% over the next two years, and
renters are currently paying over half their monthly income in rent.
Author:Brian Hargrove Phone: 919-830-5233 Dated: July 6th 2014 Views: 529 About Brian: ...
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