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
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
China property shares firm after Politburo highlights clearing inventory
Dubai billionaire’s children plan to revive troubled world islands
UK commercial real estate lending plunges to lowest in a decade
Hybrid, flexible working set to curb Singapore office usage and rents
Australia home prices sustain growth in April, CoreLogic says
New York City’s rent-stabilised tenants face third year of price hikes