Inventory: Only Challenge to the Real Estate Recovery Posted: 29 Jan 2013 04:00 AM PST
However, there is one major challenge that could stall the housing market: a lack of inventory. According to the National Association of Realtors (NAR) latest Existing Home Sales Report:
A recent survey by Redfin reveals that the challenge seems to be continuing into 2013. New listings taken in the first 14 days of the year decreased by 30% as compared to the first two weeks of 2012. A lack of supply will be good news for prices in the short term. However, for a long term recovery in housing, an increase in current inventory is crucial. |
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January 29, 2013