With housing inventory shortages rampant across the nation, the summer of 2018 was supposed to be “the most competitive housing market in recorded history.” But as July turns to August, reports suggest the rush of buyers missed many markets. Existing homes sales have fallen year-over-year in four of the last five months. New U.S. home sales fell 5.3 percent in June to an eight-month low. It was the second drop in new-home sales in three months.
Source: For Construction Pros