By Lawrence Yun, chief economist, National Association of Realtors
The lowest count of listed homes because of COVID 19. But inventory was already low even before the pandemic. Home sales are down but those homes listed are moving fast. Conclusion: more home listings are needed to get the sales moving. Let’s not forget about super low rates and the possibility of dipping below 3% on conforming loans based on where the 10-year bond yields are, though the jumbo market is not working smoothly.