The economists expect the tight inventory situation to last until 2015. While the absolute level of inventories might increase, the pace of increase might still lag demand. The months' supply of homes is likely to remain in the four to five-month range, they said.
That means this could remain a sellers' market for some time to come.
So housing may be recovering, but it does not mean the economy is going to pick up rapidly. And it does not mean you will find it easier to buy a home either.
-- Written by Shanthi Bharatwaj in New York.>Contact by Email. Follow @shavenk
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