Click Here

REALTORŪ Magazine Online: The real estate professional's business support tool.

OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  July 10, 2008  |   Housing Inventories Fall in Major Cities
The supply of homes dipped 2.4 percent in a year-over-year change in 12 of 18 cities where ZipRealty Inc. does business, the brokerage says.

The data covers listings of single-family homes, condos, and town houses for sale on local multiple-listing services. This is the first decline since the firm began keeping tabs in mid-2006.

The data doesn’t include New York City, but Miller Samuel Inc., an appraisal firm, says the city’s inventory was up 31 percent compared to June of 2007 because Wall Street firms have cut jobs.

The following is a list of cities and their percentage of inventory decline:
  • Boston: -10%
  • Dallas: -10.6%
  • Houston: -2.4%
  • Las Vegas: -18.5%
  • Los Angeles: -7.4%
  • Minneapolis: -4.8%
  • Orange County, Calif.: -15%
  • Orlando: -3.1%
  • Phoenix: -2.6%
  • Sacramento: -22.4%
  • San Diego: -6.7%
  • Tampa, Fla.: -7%

Source: The Wall Street Journal, James R. Hagerty (07/10/08)

Browse all of today's news
E-mail this page to a friend
Give us feedback


Search news
Launch my search
 
Subscribe to news
Subscribe to News
Daily and weekly real estate news, trends, NAR press releases, convention coverage, plus exclusive features and columns.

RSS Feed
Get the Daily Real Estate News delivered straight to your desktop or news aggregator. (New to RSS? Learn the basics here.)
 
 
SHARE YOUR INSIGHTS
How did you sell it?
Tell us how you overcame hurdles to sell a challenging or very unique listing!