Nationwide home sales listings are at the lowest point in more than a decade. (DMN files)

I’ve written about the shortage of homes for sale in North Texas and how this may hold back potential buyers in the spring market.
There was only a 3.4-month supply of preowned homes listed for sale in the area last month. A normal market is considered about six months worth of home inventories.
A new report out today from the National Association of Realtors shows that it’s not just the Dallas-Fort Worth area that is running low on homes to purchase.
Nationwide home sales inventory is at the lowest level since 1999, the Washington, D.C.-based trade group says.
U.S. home sales listings totaled just over a 4-month supply.
“Buyer traffic is 40 percent above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly,” Realtors economist Lawrence Yun said in the report. “We’ve transitioned into a seller’s market in much of the country.
“We expect a seasonal rise of inventory this spring, but it may be insufficient to avoid more frequent incidences of multiple bidding and faster-than-normal price growth,” Yun said.