According to Black Knight’s latest Mortgage Monitor, home prices saw their first monthly increase after 7 straight monthly declines as sales picked up on lower interest rates. However, they point out that available inventory levels continue to deteriorate. Indeed…
“The unfortunate reality is that the scarce supply of inventory that’s the source of so much market gridlock isn’t getting any better. In fact, seasonally adjusted inventory levels continued to deteriorate in February, marking not only the fifth straight month of such declines, but also the largest inventory deficit we’ve seen since May of last year, with more than 90% of markets seeing such deficits grow in February…” Said Black Knight Vice President of Enterprise Research Andy Walden.