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Spring U.S. housing market fell short-Coldwell CEO

Julie Haviv reuters
Spring U.S. housing market fell short-Coldwell CEO - Coldwell Banker - Real Estate Agent - United States - Real Estate Market

NEW YORK (Reuters) - This year's peak home-buying season was lackluster, as buyers seeking to trade up to larger houses were absent, said the head of one of the country's largest real estate firms.

Jim Gillespie, president and chief executive of Coldwell Banker Real Estate LLC, in an interview with Reuters, said sales were only modest during the spring, with demand overwhelmingly dominated by first-time home buyers and investors.

"The more important 'move-up' buyers were absent and that is not encouraging," said Gillespie, who is based in Parsippany, New Jersey.


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