Multifamily gains as single-family home sales stall
from By Michael J. Berens
Homebuyers took a small vacation from the market in August, with both new and existing single-family homes reporting weaker sales. A shortage of affordable inventory and seasonal factors kept buyers away. The multifamily sector, meanwhile, is benefiting from the lack of supply, as demand for condominiums and co-ops increases. Even with what industry experts view as a "bump in the road," the year-to-date and year-over-year sales continue to outperform last year.
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