As the struggle to maintain adequate inventory levels continues in much of the country, several influences have been named as factors in the housing shortage. One probable cause is the large decline in negative equity on homes that were bought before the recession. As prices continue to go up, those homes are either placed on the market and snatched up quickly or may even have risen to a less affordable price for today's home shoppers.
In the Houston region, for the week ending October 2:
- New Listings increased 5.3% to 2,390
- Pending Sales increased 15.3% to 1,785
- Closed Sales increased 0.9% to 2,122