Housing inventory, the industry's term for the number of homes for sale, grew 29% compared to a year ago, according to from Realtor.com. Meanwhile, the average rate for a 30-year fixed mortgage fell to 5.3% this week, according to Freddie Mac, from 5.8% two weeks ago.
"Even though we saw seen rates pull back a little bit this week and last week, they're still much higher than they were this time one year ago," she told CBS News.
Unfortunately corporations & private equity firms who buy with cash or can secure very cheap loans are buying up inventory, driving up prices for consumers.
Finally some good news.
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