The number of U.S. homes for sale earlier this year “very likely” reached its lowest point since the housing crisis began, according to Bill McBride, who runs the finance and economics blog Calculated Risk.
The continued decline in the year-over-year drop in housing inventory and its better-than-seasonal rise since the beginning of the year at 17.2 percent led McBride to revamp his April inventory-bottom prediction of 2014.
Given that still-rising home prices will entice more homeowners to sell their homes and increase overall inventory, “I wouldn’t be surprised if inventory continued to pick up through this fall,” McBride told Inman News. With the increase in inventory, home price increases will slow dramatically toward the end of this year, he said.
