Home sales continued to drop in December, the National Association of Realtors reported on Tuesday, but still stood nearly 13% above the levels of one year ago. Supply & Demand is affecting the continued rise in prices while inventory is still on the slide.
Six Top Reasons Inventory is Declining:
- Homeowners are Underwater
- No Equity to "Trade Up"
- Everyone Wants to Buy at the Bottom... Few Want to Sell
- Investors are in a Feeding Frenzy
- Banks Slow to Foreclose
- Builders Putting Up Fewer Homes
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