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Housing Inventory Continues to Fall

Housing inventory is low in many real estate markets across the US now due to a number of factors: 1) many homeowners who bought or refinanced at the height of the real estate market are still upside down on their mortgages which prevents them from selling without doing a short sale 2) there is still substantial “shadow inventory” from unresolved pre-foreclosures particularly in states like New Jersey that adjudicate foreclosures in the court system 3) Many builders are reluctant to start new construction projects because of fear of tepid demand

-Gerald

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