The U.S. Census reported that the supply of existing homes is at the lowest level since 1982. 
Specific Facts
For today’s homebuyer, high prices and low inventory are limiting the number of units sold in most markets.
Buyers for the month of June continued to request tours of homes despite fewer listings.
New listings fell 3.3% from May.
New listings were down 1.6% from 2016.
Redfin found listings down 12% in June compared with 2016.
The number of vacant homes is at a 17-year low due to the construction industry’s anxiety over the possibility of another economic collapse.
The supply of homes for sale in July was down 11% annually.
Homes were selling on average four days faster than in 2016.
Home prices also remain at current levels.
Inventory of the low and moderately priced homes is being purchased very quickly.