The Law Office of Michael E. Ripley

Exceeding Expectations

Supply of existing homes for sale has fallen

According to USA Today (February 27, 2013) the supply of existing homes for sale has fallen for seven straight months, hitting an eight year low in January, 2013.  As indicated by the National Association of Realtors, it is now a seller's market.  Unfortunately, the return to a good inventory level could take years, because many homeowners cannot sell, because they have no equity, or still owe more than their house is worth.