Demand still exceeds inventory, but more houses are coming on the market. The improving inventory trend is helping to moderate home price growth, and interest rates remain historically low. Still, housing affordability is expected to worsen in coming months as income trails price appreciation and monetary policy is tightened.
Reprinted from REALTOR® Magazine Online, September 2014, with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright September 2014. All rights reserved.