Jamie Rector/Bloomberg Inventories have been whittled down largely because new construction ground to a standstill for several years. Investors large and small have also scooped up most of the backlog of foreclosures and short sales;

Surprise demand for housing catches industry off guard

Real estate » Low inventory of homes creating problems for buyers, sellers.

By CATHERINE RAMPELL

| The New York Times

First Published Mar 23 2013 01:01 am • Last Updated Mar 23 2013 01:01 am

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