For-sale home inventory bottomed earlier this year, and more and more local markets are experiencing year-over-year inventory jumps, according to Calculated Risk blogger Bill McBride.
He predicts the National Association of Realtors will report an annual increase in inventory very soon, likely for September.
“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,” he wrote.
“(In my opinion) this will be another step towards a more normal housing market.”
Source: Calculated Risk