Home sales have slowed in recent months, but not because of a lack of buyers. The problem has been a lack of sellers. In a new report, real estate marketplace realtor.com says the U.S. housing market is in the midst of its biggest inventory shortage in two decades. The reason, it says, is two-fold. First, Baby Boomers aren’t putting their houses up for sale. The report found 85% of Boomers don’t plan to sell their homes in the next year. Since Boomers make up the nation’s largest group of homeowners, realtor.com says that takes approximately 33 million properties out of play.
Source: Consumer Affairs