Bill Kusman at First Bank wasn't surprised by a Wall Street Journal story Wednesday reporting that sales of new homes are far outstripping less-expensive existing homes, in part because the inventory of older homes is low.Sales of new homes in January were up 29 percent nationally over the same month a year earlier, according to the Commerce Department. In contrast, sales of previously owned homes were up 9 percent.We are hearing that there are low inventories of existing homes, more so on the…Read More... [Source: Residential Real Estate News - Residential Real Estate News Headlines | Bizjournals.com]
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