RE/MAX: U.S. housing market experiences largest inventory decline since last year

In August, America’s home sales slid 1.6%, marking the sixth month of 2019 that produced fewer sales than the previous year. Additionally, buyer demand outpaced homes listed for sale in August, causing the largest inventory decline in 13 months, according to the RE/MAX National Housing Report. RE/MAX CEO Adam Contos said the modest inventory growth that started last fall has been swallowed up by demand as buyers have returned to the market, likely spurred on by attractive interest rates.