U.S. housing inventory at 7-year low

While late 2018 seemed to indicate a positive shift in housing inventory, it’s now clear that those gains were short-lived as inventory is down year-over-year in 31 of the 35 largest housing markets nationwide with only San Antonio, Detroit, Atlanta and Chicago showing gains. Tow California cities – Sa Diego (down 23 percent) and Sacramento (down 21 percent) along with Seattle (down 28.5 percent) showed the steepest drop in inventory.

As demand continues to be high – lower mortgage rates and high consumer confidence as prime reasons – analysts see the slowdown in home value possible coming to an end.

Once again, demand is outpacing supply.

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