From Realtor Magazine Online, Daily Real Estate News February 8, 2008
Housing inventory in most major metropolitan markets rose only slightly in January, a month when post-holiday for-sale signs usually sprout.
Total listings of homes in 29 major markets were up only 1.1 percent compared to December, according to figures compiled by ZipRealty Inc., a real estate firm based in California.
There are still plenty of homes on the market. Inventory was up 20 percent from January 2007 in 18 metro areas for which Zip has comparable year-earlier data.
Housing inventory usually rises about 5 percent compared with December, says housing economist Thomas Lawler. This year, people appear to be holding off because “conditions are so lousy,” Lawler says.
Source: The Wall Street Journal, James R. Hagerty (02/08/2008)
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