Infographic courtesy of NAR: Existing-Home Sales Backpedal, Decrease 0.4 Percent in May
“The decline in number of sales for the third straight month doesn’t surprise me,” says Brady Kroll of Edina Realty.
“There are a lot of would-be buyers out there who simply can’t afford what they would like to buy even though they’re sitting on a bunch of equity in their current home. This leads to them not buying anything and in turn not selling their current property, maintaining the status quo of low inventory and low number of sales.”
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