Housing Inventory Down 22% Nationwide; Median Home Price Up 5%

26 01 2012

There were fewer homes listed for sale at the end of 2011 than in any of the previous four years, a positive sign for the housing sector.

Housing inventory slid to 1.89 million homes in December – down 6 percent from the previous month and 22.3 percent from the prior year, according to Realtor.com.

In the 145 markets tracked by Realtor.com, only Springfield, Ill., registered a year-over-year increase. Inventories plunged 49.7 percent in Miami, 49.1 percent in Phoenix, and 46.6 percent in Bakersfield, Calif.

Meanwhile, the national median price edged up 5 percent year-over-year.

Asking prices – the amount sellers include on a Realtor.com listing – climbed 32.5 percent in Miami, 21.7 percent in Naples, 21.5 percent in Fort Myers-Cape Coral, and 19.4 percent in Punta Gorda, according to Realtor.com.

However, asking prices were down 11 percent in Detroit, 10 percent in Chicago, 7.6 percent in Las Vegas, and 7 percent in Sacramento.

Source: Wall Street Journal

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One response

3 02 2012
Atchut

Nice post.

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