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Inventory Grows In January Following Disappointing Home Sales

Inventory shortages have plagued the housing industry for the past couple of years but now a shift seems to be sending the concern towards home sales. With a dip in home sales, inventory has now increased to its largest point in the past 10 years, according to a RE/MAX National Housing Report.

"RE/MAX reports that although home sales retreated 11% on an annual basis, inventory climbed 6.4% year-over-year across the 54 metros it analyzed," according to HousingWire.

"In fact, January was the fourth consecutive month of annual inventory growth, further reversing a decade-long trend of dwindling inventory, according to the report."

With an increase in inventory, home prices should dip in the favor of homebuyers and prove to create a competitive market as spring draws near.

"Notably, homes spent 59 days on the market, marking a record low for January sold listings," according to HousingWire.

"Furthermore, January posted a 3.9-month supply of inventory, increasing from 3.4-month in January 2018."

To learn more about the increase in inventory for the housing industry, click on the image above.

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