‘Housing emergency’: High demand, low supply driving up prices in seller’s market

It’s a seller’s market, but not enough homeowners are selling. The housing inventory has been so low through spring and summer, the National Association of Realtors predicts the country could be heading for a crisis. “Housing shortages look to intensify and may well turn into a housing emergency if the discrepancy between housing demand and housing supply widens further,” said Lawrence Yun, chief economist for the national association.
Source: Penn Live

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