Prices are up sharply as housing inventory continues to plateau, leaving 40% fewer homes on the market compared to last year, according to a report prepared by Black Knight.

Instead of making up for the shortfall, new listings have slumped further in 2021. Year-over-year, new listing volumes were down 16% in January and 21% in February — amounting to a 125,000 deficit in inventory compared to the same time in 2020.

“Any hopes of 2021 bringing an influx of homes to the market and lessening pressure details ⇒

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