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Douglas Zeller's Blog

By Douglas Zeller | Broker in El Dorado County, CA

Inventories Hover at Historic Lows

While buyer demand is picking up, many consumers increasingly are finding fewer choices in housing these days. The number of homes for sale continues to remain at record lows with the nationwide inventory of for-sale single-family homes, condos, townhomes, and co-ops is about 19 percent below inventory levels from a year ago, Realtor.com reports in its analysis of July housing data of 146 markets. 

“Low inventories, combined with rising list prices and lower times on market, are positive signs that the overall market is in a stabilization mode,” Realtor.com reports. 

Median asking prices were 2.63 percent above list prices in July, and the median age of the housing inventory has fallen about 9 percent in that time period, Realtor.com reports. 

California cities have seen some of the largest drops in inventory levels in the past year, as well as some of the largest price increases. 

More information at: http://realtormag.realtor.org/daily-news/2012/08/16/inventories-hover-historic-lows?om_rid=AACb6$&om_mid=_BQLUo6B8tg$0Oq&om_ntype=RMODaily

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