Why An increase in Inventory As Homes Sales stall?
The National Association of Realtors (NAR) recently released findings in the latest Existing Home Sales Report that the supply of homes for sale and condos for sale in 2018 as compared to last year has increased each month for the last four months, while at the same time, existing home sales have slowed down.
During the last three years, the opposite was true, Sales climbed as inventory fell.
Lawrence Yun, Nar's Chief Economist shared his thoughts on why the change. Yun believes, "This is the lowest existing home sales level since November 2015. A decade's high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings…