When Will Housing Inventory Stop Falling?
Housing inventory has fallen at a precipitous rate, but could relief finally be approaching? New research from Zillow suggests it just might.
There are currently two universally acknowledged truths about the U.S. housing market – one, that the market on a whole has improved dramatically in the last year, after bottoming in the latter wintry months of 2012; and two, that the housing inventory of for-sale properties has plummeted.
Numerous reasons, from the preponderance of underwater homeowners to patient sellers anticipating greater price increases, have contributed to the decline in housing inventory, and in some housing markets, the decline has been so dramatic as to incite a seller’s market – a phrase that was all but unimaginable a year ago.
Take a minute to read the full article and infographic from Chicago Agent Magazine