Shrinking inventories rein in booming home sales
from By Michael J. Berens
Home sales in August eased back to a more normal pace after hitting record-setting levels in June and July. So far, the market has recovered quickly from the spring slump caused by the onset of the coronavirus pandemic and is now well ahead of last year's gains. High demand, however, has significantly cut into the short supply of homes for sale, producing a drag on the market that is likely to linger throughout the remainder of the year.
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