Home Real Estate Triangle faces serious shortage of supply in hot housing market :: WRAL.com

Triangle faces serious shortage of supply in hot housing market :: WRAL.com

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— The Triangle’s hot housing market is holding strong against a national cooling off. But that’s making it hard for some people to buy a home in the Triangle.

A new report from the federal government shows sales and construction of new homes fell in June – but there’s no sign of slowing here in the Triangle.

Part of the issue is a serious shortage of supply in the Triangle, which isn’t enough to keep up with demand.

The report shows inventory is up nationwide, enough to meet demand for a little over six months – but here in the Triangle, there are only enough homes for sale to keep up with about two and a half weeks worth of demand.

The latest local market update from Triangle MLS shows a 17% increase in inventory from May to June, but that’s still 60% less than last year.

“We’re looking right now active homes on the market in the five…

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