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Shortage Of Homes to Buy May Last Another Year

Shortage of Homes For Sale to Continue Across Nation

MSN.com The real-estate story used to be all about prices, most recently, "When will prices stop falling and when will they rise again?"

Now the story is about inventory: When will more homes come to market, at least enough to meet the buyer demand? At least one economist is predicting that the "inventory bottom" could be a year away.

With so few homes for sale in many areas, real-estate agents have found that aspects of the bubble are back: multiple offers, sellers who will accept only cash and homes selling for more than asking price.

The boogeyman of the shadow inventory turned out to be much less than feared. Instead of the market being flooded with low-priced foreclosures, it has seen few homes for sale at all. The number of homes...