According to the latest two reports that were made, the sales of homes and prices have watered-down south of the border. The first report that was gotten from the Federal Housing Finance Agency data showed that even though there was a 1.2 percent increase in prices compared to the quarter before and the 5.6 percent increase compared to the second quarter of last year, the increase per month during the past three months was only at 0.2 percent.
The economist for FHFA, Andrew Leventis said: “This is a much more modest pace of appreciation than we’ve seen in some time and most likely reflects accumulated pressures from significantly reduced home affordability.”
In the meantime, the National Association of Realtors made a complaint that the current sales of homes for last month have gone down by 3.2 percent to a seasonally-adjusted almanac rate of 5.39 million. For the first time ever, the year-over-year sales went down in November 2015. The low inventory has taken a huge toll on sales heavily, in turn causing prices to go up and the issue of affordability to worsen over the months.