"Signs of Relief: Housing Shortage Begins to Ease"

The housing shortage in the US is showing signs of easing as the number of homes for sale increased for the second consecutive month in December, with the South experiencing the most significant surge in inventory. However, inventory levels remain significantly lower than pre-pandemic levels, contributing to persistently high home prices despite a slight retreat in mortgage rates. The shortage initially stemmed from the surge in mortgage rates, which led many sellers with low pre-pandemic rates to hold off on selling, limiting options for potential buyers.