Historically low inventory continues driving home prices high

The dramatically limited supply of houses for sale is continuing to drive an increase in home prices as buyers are often left fighting over the few houses that are on the market. “After a yearlong slowdown in 2019, home values appear primed to go back on the upswing to start 2020. The main driver in this reversal is clearly the ongoing and historic lack of for-sale inventory, though a strong job market, stabilizing geopolitical tensions and still-low mortgage rates have played their part,” Zillow Economist Matthew Speakman said in a response to the Case-Shiller report.

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