If U.S. real estate inventory is so “overwhelming,” where is it all hiding? | Redfin Corporate Blog
The Tim on Redfin’s blog breaks down how the shadow inventory off the market neutralizes the market with shoddy inventory.
In his words:
The overall price trend (both for REOs and non-distressed homes) has been down in most markets over the last year (Boston and Washington DC’s flat prices are two notable exceptions). Meanwhile, sales are slowly clawing their way out of the post-tax-credit gutter, but a decent recovery in sales is currently being held back by a serious lack of quality inventory.
Allow me to illustrate today’s market dynamics by way of a Venn diagram (because who doesn’t love Venn diagrams?)
He also includes a photo of a sloth.
