Real estate resource site Trulia recently released their 3Q 2016 Inventory and Price Watch report that shows U.S. home inventory 6.7% over the past year – marking the fifth straight quarter of decreases. Trulia says this decline pushes home affordability further out of reach for more Americans. In addition, the number of starter and trade-up homes on the market nationwide has dropped by 10.7% and 9.2%, respectively, with premium home inventory dropping just 3.2% over the past year.
“As inventory continues to fall nationally across starter, tradeup, and premium home segments, starter homebuyers will need to dedicate a larger share of their income towards a home. The good news, however, is that incomes are on the rise.” Said Ralph McLaughlin, Chief Economist for Trulia.
Click here to read the full report on Trulia.com.
