The number of U.S. homes listed for sale rose dramatically in January compared to December after 18 consecutive months of decline, according to data released on Thursday by NAR.
Part of this is seller trying to capitalize in the $8,0000.00 before it runs out
It may also be banks starting to put their ghost foreclosed inventory of properties up for sale
The total number of single-family homes and condos listed for sale increased in January from December by 2.9 percent, bringing the total number of active listings in the 27 major U.S. metropolitan markets to 567,265,.
This mean that there are an additional 15,0000 homes for sale in this markets since January .
Increased supply could negatively impact the hard-hit U.S. housing market, which remains highly vulnerable to setbacks.
This new over supply could hurt the balance between supply and demand. Stabilization of the housing market is seen as key to an economic recovery .
The number of home listings year-over-year, however, was down 22.33 percent, with 163,000 fewer homes on the market, it said.
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