Home Inventory Fell to Three-Year Low in December


As the country’s homes for sale inventory declines, prices and the percentage of homes going under contract quickly are rising, according to Redfin.

The housing inventory dropped 12.7% in December from a year earlier to the lowest level reported in three years, Redfin reported Thursday. Among homes sold last month, 32.7% were under contract within two weeks, which Redfin characterized as “the largest reduction in inventory in any single month…on record.”

Read the source article at National Mortgage News

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