Lack of Existing Home Sales Inventory Impacting Sales

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Some Highlights:

  • Existing home inventory is down 10.1% from last year.
  • A lack of inventory explains the modest increase in home sales (0.8% year-over-year) despite strong buyer demand.
  • Existing home prices increased 5.1% year-over-year, which is directly related to the lack of inventory.

JoAnn Petrosino, REALTOR®, ABR, CRS, GRI, CHMS, CNS
Coldwell-Banker Apex Realtors®

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