Buyers have fewer and fewer choices of homes to purchase these days

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Buyers have fewer and fewer homes to choose from these days. The blue bars above show that there were 693 homes for sale at this time two years ago -- 653 homes for sale at this time one year ago -- and only 575 homes for sale today!
This decline in inventory has helped create a more balanced market -- but can also lead to a frustrating home search for many buyers, depending on their desired price range and location.