Economists and real-estate agents are finding out that younger and middle-income buyers getting squeezed out.
Sales of existing homes fell in October after a September surge, as rising home prices and a lack of inventory challenged potential buyers. Meanwhile, more children are living with their parents than during the 2007-09 recession, an indicator that young adults aren’t striking out on their own despite substantial improvement in the economy.
The pace of existing-home sales fell 3.4% in October from September to a seasonally adjusted annualized rate of 5.36 million, the National Association of Realtors said Monday. Read more
