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Prices putting a squeeze on housing market

from By Michael J. Berens

Short supply of available inventory pushed down sales and drove up prices of existing homes in June. Although demand remains high, would-be buyers are struggling to find suitable homes at a price they can afford. By the same token, the shortage of existing homes for sale helped to boost new-home construction last month. Builders, though, being hit by increasing costs, worry that their properties may soon be priced out of reach for many potential buyers. more

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