Total Housing Inventory Rises 4.1% From December
It’s been a tough market out there for buyers. According to the recent Housing Shortage Report from Realtor.com, the United States is in the midst of its worst housing inventory shortage in over two decades.
But it looks like that might be changing.
According to the National Association of Realtors most recent Existing Home Sales Report, total housing inventory rose 4.1% from December to January, with 1.52 million homes for sale across the country. This is still lower inventory than January of last year, but it’s a positive sign that the end of the housing shortage may be in sight.
Most experts predict mid-to-late 2018 should see major changes in the number of homes on the market. According to a recent article from Realtor.com’s economics team, the second half of the year will see a major increase in inventory flooding the market thanks to new construction—which is great news for buyers.
The low inventory markets across the country have been experiencing has been a real challenge for buyers. But thankfully, it looks like the coming year is going to be a much friendlier environment for buyers looking to purchase a home.