Our regional real estate market update! Home inventories of for-sale listings continue to fall, which may help raise overall housing prices as demand picks up.
Inventory of for-sale single-family homes dropped by about 18 percent in April . National housing data of 146 metro markets by REALTOR.com also reflects this trend.
“These key indicators continue to suggest the housing market may be at a turning point and headed towards a broad-based recovery,” REALTOR.com notes in a release on its April housing data. “Lower inventories, combined with faster moving markets and relatively stable median listing prices are indicative of the kind of balanced housing market that has not been seen in many years.”
Source: Melissa Dittmann Tracey, REALTOR® Magazine Daily News