Creeping prices keep lid on home sales
from By Michael J. Berens
Low mortgage rates helped drive home sales in December. At the same time, shrinking inventories combined with increased demand to push home prices higher. That left some buyers, especially those at entry level, with fewer or no options, holding down the number of potential sales. Nevertheless, analysts are optimistic that market conditions will remain positive in 2020. Sales of existing homes rebounded from a 1.7% drop in November, climbing 3.6% month-over-month in December. Much of that gain came from condo and co-op sales, which soared 10.7% for the month.
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