For-Sale Home Inventory Continues to Drop

It’s been a constant theme for awhile now but according to Zillow’s Real Estate Market Reports for May the number of for-sale homes on the market is dropping at the fastest pace in nearly four years.

Nationwide, there are 9 percent fewer homes for sale than a year ago in 2016. San Jose has approximately 30 percent fewer home on the market than a year ago.

Moreover, new home construction is unable to keep up with demand and likely out of the price range of most first-time buyers. Compounding the problem are investors who buy new homes with the intention of renting.

Leave a Comment