Since 2012, when inventories of active listings started to decline on a national level, supplies of homes for sale have fallen 24 percent. Year-over-year inventories have fallen for 29 consecutive months. Shortages have inflated prices by 48 percent since 2011, limited choices for buyers and made homeownership too expensive for thousands of first-time and middle to lower income families. During 2017, inventory shortages reduced sales by about 1 percent. As the year ends, the evidence is growing that the worst is over and 2018 will see markets slowly return to normal. Here are four signs that the supply and demand will become more balanced in the coming year. New listings are up Higher prices are finally motivating more owners to sell. On a national basis, new listings were higher than they were last year in five of the six months from May through October, the best showing since mid-2015. In October alone, some 370,000 new listings hit the market, a 2 percent increase. In Oct…
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