Even though housing prices are increasing, they are often well below the purchase prices of a few years ago. Therefore, instead of selling at a price less than they have paid, many homeowners are deciding to rent their houses.
Would-be sellers usually aren’t eager to list their homes at prices that – while rising – remain well off their peak. That creates supply shortages which make it harder for buyers to find a suitable property. Read the full article online at The Wall Street Journal.