Housing inventory has been below normal for more than two years now. That’s been true of new homes and existing homes, and the forecast for the new year is not a whole lot better.
According to data from the National Association of Realtors (NAR), the inventory of existing homes for sale had dropped more than 9% year over year from November 2015 to November 2016, to a total of 1.85 million, the lowest total since 2000.