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Sales of existing houses have risen.
Sales of existing houses posted a rise of 1.2%.
The median price of existing houses for the three counties was $234,700.
Mr. Case, the Wellesley economist, said he was heartened by the minimal pace of housing starts by builders and the exuberant sales volume of existing houses.
Sales of existing houses rose by 4.5% in April to reach a new record: an annual rate of 7.18m house sales.
But there was a fall in the number of existing houses sold in May, and the inventory of unsold properties rose to 6.5 months' worth of sales.Consumer confidence in America perked up.
Similar(46)
In this city that should begin with a fair appraisal of existing housing.
If renting does become more important, owners of existing housing will be affected unevenly.
There is also a lot of rehabilitation of existing housing to get more market rate tenants into buildings".
Under the proposal, 38,000 units of existing housing would be repaired and preserved and 27,000 new units built.
But Nimbyism has a cost: in New York, it cuts the number of new housing units built and jacks up the price of existing housing.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com