The housing recovery has been suffering from a winter cold that's created a "low inventory problem," but that could change now that spring has finally arrived, Realogy's Richard Smith told CNBC on Thursday.
In a "Squawk Box" interview, the chairman and CEO of the real estate franchiser said, "It's hard to list your home. If you get it under contract, an inspector can't inspect the roof or the foundation because it's under snow."
(Read more: Housing loses its 'big pop': Blackstone's Schwarzman)
But for three reasons why Smith is hopeful that buyers and sellers will come out of hibernation with the warmer weather, watch the above video.