10 Percent and Falling: Housing Inventory Keeps Shrinking

Buyers are being challenged by diminished inventory and mounting prices, especially in areas with crisis-level supply, according to the December Zillow® Real Estate Market Report. Inventory is down 10 percent from last year—a three-year trend—and, in the buzziest markets, as much as 40 percent.
Construction costs are exacerbating the issue, says Aaron Terrazas, senior economist at Zillow, who anticipates building will be concentrated in outlying suburbs this year.
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