Wednesday, November 25, 2020 8:52 pm

Here’s where the housing shortage is the worst

By Diana Olick | CNBC

At the end of October, inventory nationwide fell to a 3.9-month supply, according to the National Association of Realtors.

The supply is worst on the low end, down over 6% from a year ago for homes priced between $100,000 and $250,000, according to the Realtors.

California, where prices are highest, is seeing a drop in supply in all major markets, but supply is also falling in some unexpected cities.

The supply of homes for sale is falling across the nation, as demand soars and attractive mortgage rates pull buyers off the sidelines.

At the end of October, inventory nationwide fell to a 3.9-month supply, according to the National Association of Realtors. This means that at the current sales pace it would take that long to sell all of the 1.77 million homes available for sale.

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