The U.S. housing market inventory is low due to the changes in the housing credit channels. With the current low purchase applications data and lack of credit boom, inventory has not skyrocketed like it did in 2012-2019 and is near all-time lows, leading to a low days on the market. NAR Total Inventory Data has decreased since 2007, with first-time buyers responsible for 29% of sales in April and all-cash sales accounting for 28%. Despite a big bounce in the March report, not much growth is expected due to the current market conditions.
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