The lack of home sellers as the spring selling season nears is of little surprise. Nationwide, the supply of existing homes for sale has fallen for seven straight months. Competing multiple offers abound with most of the country now a seller’s market, just one year into a housing recovery following the worst downturn since the Great Depression. The shortage of sellers is expected to ease as home prices rise. Many homeowners cannot afford to sell because they do not have enough equity to put into another home. Some potential sellers are waiting for the prices to rise a bit more. Many have learned to be content during these past few years of the national recession. They have simply rearranged their priorities and decided their current home is fine. Major companies have nixed potential employee relocations. And some are simply concerned with our national politic malaise. But with all of this – economists predict sellers will sell again, and soon!
- USA Today, February 27, 2013 and Wall Street Journal, February 27, 2013
