Realtor.com Reports Inventory Down, Prices Up

Housing inventories are down and list prices are up, according to real estate search site, Realtor.com. In September, the national inventory of homes for sale (single family homes, condos, townhouses and co-ops) dropped 3.27 percent from August and an astonishing 20 percent year over year. Additionally, the median list price rose 1.6 percent to $190,000 compared to one year ago- not a substantial jump, but a positive sign that it has not fallen.

Realtor.com was cautious optimistic stating, “While such developments can be viewed as encouraging, markets remain fragile and could easily begin to deteriorate with further weakening of the economy or increases in foreclosure rates.”

from AGBeat

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