Housing inventory shows signs of stabilizing
Daily Real Estate News | September 14, 2007Housing Inventory Shows Signs of Stabilizing
The number of homes for sale in metro areas across the country rose 1.8 percent in August from the previous month, according to statistics compiled by ZipRealty, a real estate brokerage based in Emeryville, Calif.
This increase was similar to the average over the last two decades, indicating that the rapid rise in inventory in late 2005 and 2006 has moderated.
The Seattle metro area showed the biggest increase in supply, with a rise of 5.7 percent from July, according to ZipRealty. Seattle has remained a strong housing market, although the increase suggests it could be cooling.
The supply of available homes in the Boston area fell 2.2 in August. In early 2005, Boston was one of the first markets to start cooling, and it is now one of the few where supply is declining.
Source: The Wall Street Journal, James R. Hagerty (09/13/07)
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