Sales are 4.7 percent higher than a year ago and above year-over-year totals for the fifth month in a row, NAR also said. That sounds good, but a sales rate of 5 million units a year is roughly where the market was in the mid-1990s. In other words, considering the population growth of the last 20 years, people aren’t buying houses at the same pace as they did then, and thus aren’t owning them at the same rate.
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