Housing supply surges to the highest in 4 years as homes sit on the market for longer amid high prices
In Miami, nearly 64% of listings sat on the market for 60 days or longer in in November.
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- Active home listings climbed to a four-year high last month, up 12% from a year ago, Redfin says.
- Florida and Texas, in particular, have seen a surge in stale inventory amid a boom in homebuilding.
- Would-be buyers continue to face high prices and mortgage rates, keeping them renting or locked into their current homes.
The US housing market is...
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