that the country's total housing inventory dropped to 1.47 million in September — enough to last a record-low 2.7 months.
Even though record-high numbers of newbuilds were purchased earlier in the pandemic, new-construction listings dropped 33.6% year-over-year in August, according to a"Housing demand is robust but supply is not and this imbalance will inevitably harm affordability and hinder ownership opportunities," NAR's chief economist, Lawrence Yun, said in the association's report.that home prices jumped 6.5% nationally in July on a year-over-year basis.
Its a seller's market, if they were smart they would look into a safe interest bearing account that has a good interest rate.
Ultra low mortgage rates broke the housing market. The Fed created artificial demand that created more demand than supply, sparking hyperinflation in housing prices. It's a mess they created.
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