The number of homes for sale in the 28 markets tracked by online real estate company ZipRealty fell 1.6 percent in September.
Overall, the September inventory is down 7 percent from a year ago in the Zip Realty-tracked metro markets. Zip's accounting includes only homes listed in multiple-listing services and many foreclosed homes aren’t included in those databases.
Barclays Capital estimates there are 811,000 bank-owned homes in the U.S., up from 129,000 two years ago, and predicts that the total will rise 60 percent before peaking late next year.
Source: The Wall Street Journal, James R. Hagerty (10/09/2008)
Sunday, October 19, 2008
Housing Inventory Tightens in September
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