By Michelle Jamrisko | Bloomberg
The U.S. housing market is looking a little top-heavy these days.
Beneath a steady May existing home-sales number that helped put to rest fears that the busy selling season had perhaps hit a lull, the lingering supply issues haunting the industry could be making the market less stable as it continues to limit entry for lower-end buyers.
Purchases of the previously owned homes that make up more than 90 percent of the market held at a solid pace last month, in spite of inventories that are troublingly low, according to data from the National Association of Realtors. The supply of homes for sale inched up to 4.2 months from 4.1 months, while remaining below the five months that the group considers a tight market.
