Capital Economics sets new forecasts for home sales
This low housing inventory environment is not projected to go away any time soon, according to the latest report from Capital Economics.
“A lack of housing inventory continues to drive developments in the market. As demand has slowly recovered, low inventory levels have weighed on home sales and put upwards pressure on house price,” the report said.
“Those tight conditions are only set to ease gradually over the coming months, in spite of a steady recovery in housing starts,” it continued.
The most recent pending home sales report from the National Association of Realtors said that sales have plateaued this fall as buyers struggle to overcome a scant number of available homes for sale and prices that are rising too fast in some markets.
