Sudden Rise in Home Demand Takes Builders by Surprise

Max Whittaker for The New York Times

By CATHERINE RAMPELL
Published: March 20, 2013

SACRAMENTO — After six years of waiting on the sidelines, newly eager home buyers across the country are discovering that there are not enough houses for sale to accommodate the recent flush of demand.
“In my 27 years I’ve never seen inventories this low,” said Kurt K. Colgan, a broker with Lyon Real Estate in the Sacramento metropolitan area, where the share of homes on the market has plummeted by one of the largest amounts in the nation. “ I've also never seen a market turn so quickly.”

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