The housing market, which has struggled with an oversupply of homes for years, is facing a new problem: a lack of attractive inventory. The number of homes for sale fell for the fourth straight month in September to the lowest level of the year. Track housing inventories.
There were more than 2.19 million homes listed for sale at the end of September, down 20% from a year earlier, according to a new report from the real-estate website Realtor.com. That is the lowest level since the company began its count in 2007.
The report is the latest sign of how the U.S. housing market can’t seem to catch a break. While falling inventories are typically a sign of health, because reduced competition can boost prices, that isn’t the case right now.
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