The (Affordable) Housing Shortage

The sharp drop in January home sales was not due to a shortage of homes for sale. It was due to a shortage of affordable homes for sale…..Sales of homes priced below $100,000 fell 13 percent in January year over year. Sales of homes priced between $100,000 and $250,000 dropped just more than 2 percent. The share of first-time buyers also declined to 29 percent, compared with 33 percent a year ago.