Homes For Sale In Low Supply

Homes For Sale In Low Supply

As Spring buying season starts, prices likely to keep rising,

The supply of homes for sale is still unusually tight as the Spring buying season opens, turning up the heat on already rising prices.

The number of homes listed for sale on Real Estate website Zillow, was down almost 17% in late February vs. a year earlier. The inventories are especially tight in such local towns as Randolph, Morristown, Chatham and Madison.

The supply crunch is likely to last all year, says IHS Global Insight economist Patrick Newport. "We're not building enough homes"


Andy Walker Headshot
Author:
Phone: 201-424-8628
Dated: March 12th 2013
Views: 987
About Andy: Having lived in New Jersey for over 20 years, I have been a top producing Realtor and member of the ...

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