Posted June 19, 2012 by Rogers Healy

Fierce competition due to home shortage

The newest problem for this slowly improving housing market isn't a shortage of serious buyers, it's a shortage of good homes.

The housing inventory dropped to levels that haven't been seen since the bubble years.  The number of homes for sale in the U.S. hit 2.5 million in April which is the lowest April since 2006, according to the National Association of Realtors.

The lack of available homes is frustrating for many people wishing to purchase new homes and they are now trying to find homes before they are listed.

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