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Housing Market News

Home Sales Hit High Speed as Price Growth Taps Brakes

In May homes sold at their fastest pace in nearly two years, with the typical property on the market only 28 days, down from 32 in April. Last month, 35.6 percent of homes went under contract within two weeks of their debut, just shy of the peak rate of 35.8 percent exactly two years ago. For the last three years there’s been a double-digit spike in homes sold; this year, an inventory shortage has kept a lid on that growth.

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homeownership

Homeownership? Most Americans Still Say Count Me In

Talk about mixed signals. Most Americans believe buying a home is a good investment, but a majority also think we’re still in the midst of a crisis, the MacArthur Foundation reports. The group’s annual survey found that 41 percent think we’re still in crisis mode and 20 percent think the worst is yet to come. Yet 56 percent of Americans think buying a home is an excellent long-term investment and one of the best ways to build wealth.

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