By: Diana Olick CNBC Real Estate Reporter – Published: Friday, 19 Oct 2012 | 11:17 AM ET
It’s hard to imagine, given that the nation’s housing market is still digging itself out of an epic foreclosure crisis, that there just are not enough homes available to buy. That, apparently, is the case, according to the National Association of Realtors, who blame a drop in home sales on an “acute lack of supply” in certain formerly hot markets.
“Recent price increases are not deterring buyer interest,” notes Lawrence Yun, NAR’s chief economist. “Rather, inventory shortages are limiting sales, notably in parts of the West.”
A little perspective.