Two Charts that Show Why the Housing Market is Off Track

Sales of previously-built homes jumped in May from the previous month, the highest monthly rise since August 2011, suggesting that the spring selling season won’t be a bust after a slow start.

The National Association of Realtors reported Monday that sales rose 4.9 percent to a seasonally adjusted rate of 4.89 million in May, the second monthly gain a row. Moderating home prices, a better job market, and a larger supply of homes are helping lure buyers to the market, along with a “temporary” decline in mortgage rates, the group said.

via Two charts that show why the housing market is off track – The Washington Post.

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