📊 Inventory came up slightly in the fourth quarter but remains near historic lows. Inventory has fallen dramatically over the last three years to the point that we only have about 2.0 months of homes for sale in most of our markets. That’s incredibly low by historical standards.
And that’s why we are relatively bullish on prices. It’s just basic economics. Even if buyer demand falls, this restricted supply should prop prices up and continue to drive appreciation throughout 2023.
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