HOMES FOR SALE INVENTORY REMAINS TIGHT

Dated: 02/18/2013

Views: 1237

Inventory levels in 2012 reached an 11-year low and fell yet again last month, further limiting the number of homes for sale nationwide. Inventories of for-sale homes were down by 16.5 percent in January year-over-year, and fell 5.6 percent from December, according to the latest data compiled from Realtor.com. 

Inventories typically fall in December and January in preparation of the spring buying season. 

“But the shortage of homes for sale in a growing number of U.S. markets is maddening for would-be buyers who frequently complain that there aren’t enough good choices,” The Wall Street Journal reports. “Bidding wars are becoming more common.” 

At a time when buyer demand is strong, inventories remain constrained as banks slow their pace of foreclosures and home owners delay selling until they regain more equity in their homes. 

Metro areas posting some of the largest monthly declines in inventory levels are San Francisco (where inventory levels are down by 21 percent in January compared to December and down 47 percent year-over-year) as well as Seattle (where levels dropped 9 percent from December). The two have also seen some of the largest price increases in the nation. Median asking prices have risen by 16.4 percent and 23.7 percent in those places, respectively. 

Source: “Housing Inventory, Already Low, Dropped Further in January,” The Wall Street Journal (Feb. 14, 2013)

Blog author image

Marc Blitstein

Marc Blitstein has been a licensed Real Estate Agent since 2004. Real estate experience has been in employee relocation, residential property, short sales, investment property, and bank owned property....

Latest Blog Posts

HOW BIG OF A HOME DO YOU NEED

When buying a new house, it’s easy to get distracted by size and think that bigger is always better. However, depending on your situation, the complete opposite may be true.So how can

Read More

Playoff Hockey Return To Denver

The Stanley Cup Playoffs are returning to Denver. Monday and Wednesday night lower downtown will be filled with 18,000 hockey fans. Denver is and has always been a rich sports town. The Avs, who

Read More

Bring Natural Light Into Your Home And Watch It Sell

6 tips for letting natural light sell buyers on your listingThere are tons of benefits to bringing some natural light into a home.As real estate agents, we know that not much resonates better than

Read More

Great Summer Hikes In Colorado

SPORTS OUTDOORS 10 day hikes near Denver to take this summer You don’t have to travel far or overexert yourself to experience Colorado’s beauty

Read More