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Drop in Foot Traffic May Predict Inventory Increase

By Lawrence Yun, Chief Economist, NATIONAL ASSOCIATION OF REALTORS® and Ken Fears, Director of Regional Economics & Housing Finance, NATIONAL ASSOCIATION OF REALTORS®

For the second consecutive month, foot traffic fell sharply. While bad weather may have played a role in this trend, the effect is widespread and significant. This movement suggests that the year-over-year decline in existing-home sales is likely to soften further in January and February ahead of the spring market. However, a slowdown in demand could help to buttress inventories.

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