Urban Real Estate

Inventory Shortages Drive Down Home Sales

Inventory Shortages Drive Down Home Sales

A shortage of for sale housing has driven down home sales in April, according to the latest numbers from the National Association of Realtors (NAR).

Total existing home sales fell 2.3 percent from March, though sales are still up over last April by 1.6 percent.

Housing inventory is growing, it was up 7.2 percent to 1.93 million existing homes for sale, but it continues to fall short of demand. Median days on the market hit a new low at 29 days.

Read more at Chicago Agent Magazine here.