U.S. housing inventory, if it continues on its current upward path, will finally reach bottom toward the end of 2013, wrote Bill McBride on his finance and economics blog Calculated Risk.
McBride references a blog post from tech-focused brokerage Redfin that explores the trajectory of inventory, given the sharp growth in new listings, for the rest of the year in the 19 markets in which it operates.
“As more inventory comes on the market, buyer urgency will wane and price increases will slow and even decline seasonally in many areas this winter,” McBride wrote. “(In my opinion) this will be another step towards a more normal housing market.”
Source: Calculated Risk