Source: C.A.R.
A limited supply of available homes for sale continued to hamper California housing sales, which were essentially flat in January, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.
A limited supply of available homes for sale continued to hamper California housing sales, which were essentially flat in January, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.
“The underlying fundamentals for housing demand exists, however, constrained inventory is holding back a stronger recovery as affordability becomes an issue for current homeowners who are reluctant to move due to less attractive mortgage rates and more restrictive lending standards,” said C.A.R. President Kevin Brown. “Supply conditions in the lower-priced segment were especially tight as inventory for homes priced below $300,000 fell 13.4 percent from the previous year, while inventory for homes priced $1 million and higher increased 11.1 percent from last year.”