The number of new listings was down in 143 of 146 metro areas this January. The listings inventory fell to a six-year low according to a monthly report from Realtor.com. Supply is low, and with the economy coming back strong, home buyers who have been patiently waiting to buy, are now ready. Supply of homes is dropping, and the demand for homes is rising. That means one thing, higher prices!
Inventory is probably close to as low as it will go. With home prices going higher, we will start to see more listings as home owners are looking to sell and move up, that is good news for both home buyers and home sellers!