For the first time in 16 months, the total inventory of
homes
available for sale dropped last month, according to the National
Association of REALTORS®. While the decline was slight – less than 1
percent month-over-month – the drop does represent “a reversal to the
general growth of listings that had been occurring throughout 2014,”
writes Lawrence Yun, NAR’s chief economist, at the Economists’ Outlook
blog. “More inventories are needed, not less. Or else, home prices could
re-accelerate,” read more.
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