U.S. housing inventory is trending in the right direction.
We saw a 12.9% year-over-year increase in new property listings in February. Although total inventory remains flat, we’re finally not seeing a decline in overall inventory for the first time in nine months.
As you’re likely aware, tight inventory is mainly responsible for the stubbornness of the housing market. Even when active demand seemingly froze market activity, prices haven’t budged. Inventory kept rising interest rates from easing home prices. It’s also made the supply and demand balance unsustainable.
Ideally, this increase in new home listings points to a turning point on the horizon. But there are a few problems – and reasons investors shouldn’t sit back and “wait out” low inventory.
from Memphis Real Estate Investing HubSpot Blog https://ift.tt/A21w5vo
Jones Pharr 