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US homes sales accelerate, supply still a constraint

Home sales up 2 per cent; chronic shortage of houses pushes prices upwards, sidelining first-time buyers

Published Wed, Nov 22, 2017 · 09:50 PM
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Washington

HOME sales in the United States increased more than expected in October as hurricane-related disruptions eased, but a chronic shortage of houses which is pushing prices beyond the reach of some first-time buyers remains an obstacle.

The National Association of Realtors (NAR) said on Tuesday that existing home sales rose 2 per cent to a seasonally adjusted annual rate of 5.48 million units last month.

It added that sales in Houston and Jacksonville, regions which bore the brunt of Hurricanes Ha…

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