According to Redfin’s latest article on the current real estate market inventory, homes for sale are continuing to decline which leads to an incline on offers. According to the U.S. Census Data, single-family home constructino is less than half of what it was before the recession in 2007. Although there is scarcity in inventory, Redfin tours were down just 2.1% from March to April. Redfin home tours are up 15.8% year over year meaning that the demand is there but a stable surge in supply has yet to materialize.
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