Despite a strong economic backdrop, housing activity has stalled since the start of the year. Mortgage applications for home purchase have done no more than hold their ground since their post-election jump, and existing home sales in April were essentially unchanged from their level late last year. The lack of choice for buyers explains the slowdown, with the number of existing single-family homes for sale reaching its lowest level since 1995.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.