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Homes For Sale Nearly 20% Higher Than Last Year

New numbers from the National Association of Realtors show the inventory of homes for sale was up another 6.7 percent in April, pushing available supply 18.5 percent higher than it was last year at the same time. Lawrence Yun, NAR's chief economist, says that's good news for buyers. “Eventually, more inventory will help boost home sales and tame home price gains in the upcoming months,” Yun said. “Increased housing supply spells good news for consumers who want to see more properties before making purchasing decisions.” But while rising inventory is undoubtedly good for buyers, the market is still challenging. Median prices hit an all-time high in May while sales were largely unchanged from April. Overall, sales of previously owned homes fell 0.7 percent month-over-month and are now down 2.8 percent from year-before levels.


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