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Shortage In Housing Market Listing Inventory Provides Selling Opportunity
Have you heard that the housing market is softening? Team Nest Builder knows buyer traffic has decreased. There are fewer purchasers in the market than there were last month and at this time last year. What you may not have heard, however, is that there’s still a severe shortage of listing inventory.
In a recent interview discussing the housing market, First American’s Chief Economist Mark Fleming put it simply:
“The biggest challenge is really the availability of supply.”
According to available inventory numbers released by the National Association of Realtors (NAR), the actual number of homes for sale has decreased in each of the last five months.