Recently, there have been ominous signs of significant disruption in the housing market. Weekly active listings and new listings were both reported to have decreased both week to week and year over year.
This reflects a marked decrease in the number of homes listed for sale and signals a cooling down of the housing market. This is unsustainable, as it creates a traditionally unhealthy housing market. The effects of this alarming development mean fewer available homes and a drop in home values, as well as an upward pressure on pricing.
Important Elements:
-Weekly active listings & new listings decreased week to week & year over year
-Effects: fewer homes available & drop in home values
-Unsustainable/alarming development: unhealthy housing market & upward pressure on pricing
You can read this full article at: https://www.housingwire.com/articles/housing-market-tracker-inventory-shocks-lower/(subscription required)
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