CNBC’s Diane Olick reports that a coming market shift could take the U.S. housing supply to a new low.
“Supply is expected to drop again this fall and potentially hit a new low,” Olick says.
“Inventory gains began to slow this year from 6.4% growth in January to 5.8% in February. Gains continued to slow throughout the spring and it was up just 2.8% annually in June,” Olick goes on.
According to Olick, the housing supply is drying up faster in smaller, more affordable markets. Pricier markets like the Bay Area and Seattle have actually seen inventory increase.
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