Housing Inventory Scarce as Interest Rates Drop

Housing Inventory Low

The number of houses on the U.S. housing market fell 2.5% annually in September, a big increase from the 1.8% decline in August, according to Realtor.com. Housing inventory priced between $200,000 and $750,000 – the segment that makes up 60% of all sales – was unchanged in September after 18 straight months of steady growth. Supply is now predicted to dwindle in the coming months. Mortgage interest rates have fallen 1.5% in the past year, making home buying more attractive and increasing demand for houses.