Diminishing Dwellings? February 27, 2018

There seem to be plenty of prospective buyers in our housing market, but they can’t find a home to buy.??In January 2018 nationwide, sales of existing houses came in at a seasonally adjusted annual rate of 5.38 million. That’s 3.2% lower than December 2017 and 4.8% lower than January 2017.? It is the steepest year over year decline since August 2014.? Year over Year inventory declined for the 32nd straight month, and at 1.52 million, is the lowest January level since record keeping started in 1999. Add a good job market and favorable demographics and the market will remain tight.