Why The Housing Recovery is Off Track (And It’s Not Why You Think)

US Real Estate Sales By Year

Lawrence Yun, the Realtor group’s chief economist, said the biggest factor working against the recovery is the lack of homes for sale. The housing inventory is where it should be in a healthy market. If sales were to continue at the current pace, there would be a 5.6 month supply, the group said.

But potential home buyers are saying that there still isn’t enough to choose from on the market, Yun said. The Realtors says builders are not breaking round on enough homes.

“Realtors indicate there are ready buyers but not enough supply of homes to visit,” Yun said. “If we had strong inventory, the home sales would be stronger.”

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Authored By Dina ElBoghdady – See the Full Story at The Washington Post

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