By Melissa Dittmann Tracey | National Association of Realtors
Existing-home sales nudged up in November as mortgage rates dipped, continuing a three-month rebound in the housing market. But heading into the colder months, many homeowners appear to be in no hurry to list and may even be waiting for a more lively housing market to take root in the months to come.
“Inventory growth is beginning to stall,” says Lawrence Yun, chief economist at the National Association of REALTORS®. “With distressed property sales at historic lows and housing wealth at an all-time high, homeowners are in no rush to list their properties during the winter months,” Yun says. NAR’s data shows that housing inventories fell 6% from October. Still, inventory has improved over the last year, about 8% higher than a year ago, giving buyers more options than they’ve had in years.
