Lawrence Yun, the chief housing expert at the National Association of Realtors warns that the U.S. housing market is stalling. Falling inventory levels and rising prices are to blame.
“The Buyers are looking to buy, but there are Just not enough houses AVAILABLE for sale, so the contract signings are not OCCURRING.”
– Lawrence YuN
Zillow Group CEO, Spencer Rascoff says that “millennials represent the biggest cohort of buyers. Adding that, “they have spent over 500 billion dollars on real estate in the last 12 months, which is the biggest amount of any generation.”
Diana Olick reports in this housing market news video from the Nightly Business Report produced by CNBC. (NBR) is an award-winning and highly-respected nightly business news program that airs on public television.