“Housing Industry Declines 18.9% year-over-year”

From Realtor.com: April 2012 Real Estate Data

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.

Realtor.com also reports that inventory was up 2.0% from the March level.

Inventory usually increases seasonally from March to April. Over the last 11 years, the average increase was close to 9% since many people typically list their homes in the spring, hoping to move during the summer months. If the NAR also reports a 2% increase, this would be the smallest increase in inventory from March to April since the year 2000.
The NAR is scheduled to report April existing home sales and inventory on Tuesday, May 22nd. Economist Tom Lawler told me he expects to have a preliminary estimate of April existing home sales tomorrow.

By Calculated Risk on 5/16/2012 4:27 pm

Read complete article from Calculated Risk...

Comments are closed.