Lack of Existing Home Sales Inventory Impacting Sales [INFOGRAPHIC]

     

    Lack of Existing Home Sales Inventory Impacting Sales [INFOGRAPHIC]

    Lack of Existing Home Sales Inventory Impacting Sales [INFOGRAPHIC] | Simplifying The Market

     

    Some Highlights:

    • Existing home inventory is down 10.1% from last year.
    • A lack of inventory explains the modest increase in home sales (0.8% year-over-year) despite strong buyer demand.
    • Existing home prices increased 5.1% year-over-year, which is directly related to the lack of inventory.

    Source: Michigan Real Estate Updates
     

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