At 2.07m, the inventory of homes for sale fell to its lowest level since 1994 in January, and is the sixth lowest level ever recorded in the 30-year history of the data. With home sales now at a normal level relative to the size of the population, this means that supply conditions are extremely tight. House prices rose by 9.7% y/y in January, and the 4.6 months’ supply of unsold stock on the market points to further strong gains during the first half of this year.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.