Housing Inventory declines 18.9% year-over-year

April 2012 Real Estate Data
Released – May 16, 2012

On the national level, inventory of for-sale single family homes, condominiums, townhouses and co-ops declined by -18.85% in April 2012 compared to a year ago, and declined in all but five of the 146 markets covered by Realtor.com.

The median age of the inventory fell -11.57% on a year-over-year basis last month, and the median national list price declined slightly, -0.35%, last month compared to April 2011.

These key indicators continue to suggest the housing market may be at a turning point and headed towards a broad-based recovery.

Many Florida markets have cleared out much of their excess inventories and appear to be in recovery mode, while other hard-hit areas—Phoenix and California—show early signs of recovery. However, some Midwest and Northeast markets are losing ground as weak local economies take their toll. 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.

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