The shortage of homes for sale is getting much worse, even in luxury

The overall supply drop in December represents a loss of about 155,000 listings compared with the previous December, and the number of new listings is also shrinking. The reasons for that are manifold: Older Americans are increasingly choosing to age in place, rather than sell their large homes. High prices are keeping potential move-up buyers from listing their properties. And, perhaps the most dramatic change in the market over the last decade, investors have turned about 5 million homes into single-family rentals. Those homes are largely out of the for-sale pool now. – Diana Olick, CNBC Real Estate Reporter

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About the author

Michael Mahoney

Michael Mahoney

Boston Realtor

Michael Mahoney is a full time Realtor in Boston, Massachusetts. Michael covers most of Greater Boston. Michael's focus areas are primarily Norfolk and Suffolk Counties. You can reach Michael via email at mike@mmahoney.com or via phone at 617-615-9435. Michael is a sales agent affiliated with Century 21.

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