Those thinking of selling have also been reluctant to act for other reasons, from concerns about finding a new house in a competitive market to ultralow interest rates that make it appealing to refinance and stay put. Homeowners staying in their residences longer is contributing to the worsening shortage of homes on the market. The 1.28 million homes for sale at the end of November was down 22% from November 2019, according to the National Association of Realtors, and inventory sits near its lowest level in decades. At the current sales pace, there was a record-low 2.3-month supply of homes on the market at the end of November.

https://www.wsj.com/articles/housing-market-stays-tight-as-homeowners-stay-put-11611226802?reflink=desktopwebshare_twitter