Posted To: MND NewsWire
The biggest complaint in the spring homebuying season was simply that there weren’t enough homes to buy . Demand is strong for housing, but listings are low and getting lower. That supply strain has put strong upward pressure on home prices in most markets, but apparently not in all markets, according to a new report. There were just 2.14 million homes for sale at the end of April, which at the current sales pace represents 4.6 months’ supply of inventory, according to the National Association of Realtors (NAR). Six months is considered a balanced market between buyer and seller. Some local markets are seeing less than one months’ supply. Inventory is worst at the low end of the market, but it continues to fall for trade-up homes as well. The number of starter homes on the market in April dropped…(read more )