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A Seller's Market With Few Sellers

from By Michael J. Berens

Historically, the second quarter is one of the busiest times of the year for home sales. Currently, however, high demand and prices have created a seller’s market, but few sellers. That has been a boon for builders, but it also means many would-be buyers are shut out of the market at present. Construction of new homes (in units) rose 5 percent in May, compared to April, the industry’s biggest increase since January, and is up more than 20 percent for the year. more


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