Your missing the point - yes existing home inventory’s are drying up because the banks have managed to keep the majority of the inventory off the books to help keep prices stabilized. What do you think happens when prices start to rise? hmmm. Massive supply hits the market and guess what happens to prices. I have been telling you folks this for years...Its a well know condition of demand and supply. Simple economics. Also did you ever think that Obama had something to do with this? Artificially keeping home prices stabilized for re-election?? No this type of stuff never happens in our Govt! Sure!!!
I have two close friends in the houseing market and they say that its getting tighter and new homes will need to be built in quantity next 6-9-month as new contracts are being signed daily with these nothing housing rates at 3%