From Housingwire.com:  This low housing inventory environment is not projected to go away any time soon, according to the latest report from Capital Economics.

“A lack of housing inventory continues to drive developments in the market. As demand has slowly recovered, low inventory levels have weighed on home sales and put upwards pressure on house price,” the report said.

“Those tight conditions are only set to ease gradually over the coming months, in spite of a steady recovery in housing starts,” it continued.

Will ongoing inventory shortages and affordability pressures from rising prices and mortgage rates temper sales growth.  Look here for more on this topic.