After Freddie Mac predicted this spring to be the healthiest in six years, the National Association of Realtors confirmed by saying February existing-home sales and prices point towards a healthy housing spring.
According to NAR, sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price gains.
One of the primary reasons for the strong housing demand is the general lack of prime properties available to homebuyers. The inventory is at low levels not seen in nearly 10 years. However, that number of available homes are inching up, but not at a rate for many homebuyers to capitalize on the historic affordability of today.
Read more...NAR: Housing inventory growing at woefully slow pace | HousingWire