Not just California: US home supply hits record low

A record-low inventory of houses on the market nationwide has caused prices to surge as affordability is worsening.
The National Association of Realtors said Wednesday that sales of existing homes rose 3.8% last month to a seasonally adjusted annual rate of 5.54 million. For all of 2019, 5.34 million homes were sold — matching the 2018 level. High mortgage rates hurt sales in the first half of the last year, while lower rates boosted purchases in the second half.
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