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According to recent data from Zillow, housing inventory and pending home sales both rose 5% last month.
The home furnishings marketplace has done well thanks to smaller purchases.
Both the housing market and the job market appear to be stalling, leaving some people stuck in the economy.
Mortgage rates are edging lower, but it’s too early to tell whether that will get buyers off the sidelines.
In a balanced housing market, households making about $100,000 a year should be able to afford 60% of homes. Today, they find less than 40% within reach.
Affordability is still the main issue. But uncertainty in the economy is also playing a big role.
New date from Zillow suggests the time of year owners sell affects how much they get. The best time varies by region.
Some are even cutting prices, reflecting motivation to lock in years of gains. Sellers’ rising median age might be a factor.
Pending sales were up 2.2% in November.
Pending home sales, a leading indicator for the existing home market, rose nearly 7.5% in September – much more than expected.