From Realtor Magazine Online, Daily Real Estate News August 6, 2009
ZipRealty reports that inventories declined 2.5 percent in July compared to June in the 28 metropolitan areas it covers. Compared to July 2008, inventories declined 27 percent.
Zip’s data includes properties listed on the multiple-listing services where the firm operates. It doesn’t include New York City, where appraisal firm Miller Samuel Inc. says inventory was down 7.8 percent compared with June, but up 6.9 percent from July 2008.
Research firm Zelman & Associates points out that on average in the last 25 years, inventories in July have declined 1 percent from June.
Source: The Wall Street Journal, James R. Hagerty (08/04/2009)
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