Despite rock-bottom mortgage rates, homebuying stalled in April. It shows how the housing recovery has left many out in the cold.
|05/24/2019||Posted by BusinessMediaguide.Com under General World News||
- Despite rock-bottom mortgage rates, existing home sales fell in April — the 14th straight month of year-over-year declines.
- But the decline was confined to one half of the market: Homes worth less than $250,000.
- This may be explained in part by the uneven economic recovery, which has made home-buying a challenge for a large slice of American consumers and could put limits on the housing sector’s growth potential.
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