US Housing Starts fell 1.1% in June, to an annualized rate of 746,000 units, Commerce Department said Thursday.
The results were weaker than forecast. Economists had expected about 763,000 Units, therefore it was much lower than the forecasts.
“While the housing market is heading in the right direction, there'll still be a lot of roadblocks on the way," a real estate professional in Brooklyn NY said.
With so many houses being behind on payments, they are on the verge of being foreclosed. Therefore, therefore a lot of REO inventories (Bank owned properties) may flood the market in the future.
In this kind of environment, it is hard to sell your house. Sometimes, in the local NY areas, it takes 9-10 months to have a property sold on the average.
However, there is still a way to sell your house quickly for CASH. For more info, Please visit our main website at WeBuyHousesBrooklyn4Cash.com
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