A CONTINUING SHORTFALL of HOMES

Sales of homes in the 2nd half of 2016 face more challenges.  That’s because too few homes are available to keep up with demand.  The supply level hit  4.7 months.  In contrast, when home prices were falling several years ago, the supply hovered between 10 and 12 months.  This lead to depressed home prices and rising foreclosures.  The next housing “crisis” will be due to a collapse in supply, according to Lawrence Yun, chief National Association of Realtors economist.  MORE TO COME!!