Housing Inventory Moving Quickly Despite More Listings and Higher Prices in April

The spring market may be bringing a little of the hoped forrnincrease in available homes for sale. rnApril data from Realtor.com indicated the inventory of homes listed on thernnationwide site increased by 4.12 percent in April to 1.75 million and listrnprices were up 2.64 percent.  </p

Despite the increase from March to April, the nationwiderninventory was down from a year earlier in all but 11 of the 146 local marketsrnthe website monitors and 36 of the markets had a decrease in inventories of 20rnpercent or more.  Nationwide therninventory was 13.54 percent lower than a year ago. </p

Houses were on the market nationwide for an average of 81rndays, an improvement of 11 percent from a year earlier.  Thus while more homes are entering thernmarket, they are not contributing long term to inventories.    </p

The number of markets with declining list prices arerndecreasing with only 37 that had lower list prices in April 2013 than in Aprilrn2012.  Median list prices increased inrn109 markets and the national median list price was $194,900.  </p

.

All Content Copyright © 2003 – 2009 Brown House Media, Inc. All Rights Reserved.nReproduction in any form without permission of MortgageNewsDaily.com is prohibited.