The number of listings on the market increased 2.36 percent in March from the previous month — possibly an indication that sellers are becoming more willing to put their homes on the market, according to housing data from realtor.com.
While the data shows a month-to-month inventory increase, inventories are still down 15.22 percent compared to last year.
The median age of the inventory continues to drop year-over-year by 12.35 percent, the amount of time homes are sitting on the market has fallen by 20 days since February, per realtor.com. The median age of inventory of for-sale listings was 78 days in March.
“The next three months will be significant in determining the impact of the recovering housing market,” says Steve Berkowitz, chief executive officer of Move Inc.
Median list prices have increased year-over-year in a greater number of the 146 markets realtor.com tracks. California continues to show the greatest increases, as well as the largest drops in inventories as well, according to realtor.com.
Source: “Sellers Becoming Confident in the Housing Market, Providing an Optimistic Outlook for the Housing Recovery,” RISMedia (April 10, 2013)