Meanwhile, the stock of unsold present houses rose 2% from December to January, totaling around 1 million on the end of final month, barely increasing buyers’ choices. This year’s housing market is off to a strong begin as sales of current houses experienced the biggest month-over-month jump in a year. The tight housing market has reduce off many millennials from buying houses, and high interest rates have not helped. Cutting rates of interest might spark a homebuying frenzy that combines with rising housing prices to send residence prices to document levels, Bill Pulte said.
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