Low Inventory Levels Lift Home Prices
The large inventory drops have been attributed to home owners waiting out the market for price increases, investors snagging up houses, fewer bank foreclosures, and builders curbing production.
But the low inventories are helping home prices to rebound. “Large drops in inventories have whittled away the discount at which foreclosures sell in many markets, which has further contributed to big price gains,” The Wall Street Journal reports. Read more...
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