CoStar News
Summary: Lawrence Yun of the National Association of Realtors emphasized the urgent need for increased housing supply amid ongoing inventory shortages that have driven up home prices. Recent data indicates a slight increase in home inventory, particularly in regions like Florida and Texas, though disparities persist across the country. Factors such as rising construction and shifting demographics are influencing these trends, while high mortgage rates and expensive insurance costs continue to deter potential sellers, maintaining pressure on the housing market.