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Why are housing inventories low?

Author

Listed:
  • William Hedberg
  • John Krainer

Abstract

Inventories of homes for sale have been slow to bounce back since the 2007?09 recession, despite steady house price appreciation since January 2012. One probable reason why many homeowners are not putting their homes on the market is that their properties may still be worth less than the value of their mortgages, which would leave them owing additional money after a sale. In other cases, homeowners may simply be hoping that house prices will continue to rise, allowing them to recover lost equity.

Suggested Citation

  • William Hedberg & John Krainer, 2013. "Why are housing inventories low?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue oct21.
    • Handle: RePEc:fip:fedfel:y:2013:i:oct21:n:2013-31
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    File URL: http://www.frbsf.org/economic-research/publications/economic-letter/2013/october/low-housing-inventory-factors/
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    Keywords

    Housing;

    Statistics

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