Mortgage industry experts were likely in agreement that last week presented a change in inventory, following several weeks of steadily rising levels in the industry. Those tracking new listing data also recorded a decline in activity when all the numbers were taken into consideration.

Below are some of the key points from the reports:
• Total active listings dropped dramatically by 2,545
• New listings also fell week to week

Overall, the mortgage industry saw a decrease in active inventory and new listings last week. However, industry experts remain positive this decrease is not a long-term trend, with many speculating the high levels of activity seen in recent weeks could continue as long as the housing market remains healthy and as consumer confidence remains strong.

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