The Warren Group is reporting that home sales in April declined once again, making it the third month in a row for declining sales here.
Meanwhile, prices continue to climb.
The Warren Group’s Timothy M. Warren puts it simply: “There is high demand and low inventory this spring, which is causing this pattern of rising prices and dropping sales volume. … Despite the news that sales volume is down, low mortgage rates and steady home values are helping buoy consumer confidence.”
File under: Supply and demand, Economic 101