Home Sales are Sliding and Inventories are Growing

Home inventories are growing and are expected to keep growing

. The month of June has shown us an increase of 2.5 percent of unsold homes on the market. That puts the nation's inventory at an estimated 3.99 million units, which is nearly a 9 month supply. Inventories are expected to continue to grow as banks foreclose on borrowers that fail to obtain permanent loan modifications. This growing inventory will definitely affect the median home price. Simple economics dictates that a large supply equates to less demand which means lower home prices.

Home Sales are Sliding and Inventories are Growing

By: Paul Escobedo

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