Like everything else in the spring, housing supply is supposed to grow. That is because warmer weather and the convenience for families of moving during the summer make spring the busiest home-buying season historically. That is not the case this year.
Home sales have been "stuck," according to Lawrence Yun, chief economist for the National Association of Realtors, because there is just not much out there to buy.
The number of homes listed for sale increased by just 1.6 percent in March from February, according to Realtors, but supplies are still 17 percent below where they were a year ago. Realtors usually see listings swell by about 100,000 in March, but this year they saw just 30,000 more. They are hoping to see 200,000 to 300,000 more in April, but that seems unlikely, given potential seller reaction to the recent fast price appreciation in the market.
(Read More: Home Resales Stall; Prices Rise Most Since 2005)