Wednesday
July 30, 2014

10 Markets Where Inventories Are Rising Fast

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10 Markets Where Inventories Are Rising Fast

Buyers who have faced tight housing inventories in recent months may finally be getting more options. Realtor.com® reports that nationwide housing inventories have edged up 10 percent year-over-year. But seller optimism is particularly growing strong in some metros where listings in February grew by more than 35 percent year-over-year.

According to realtor.com®’s latest report, the following housing markets, out of the 146 areas it tracks, had the highest housing inventories in February:

  • Stockton-Lodi, Calif.: +101.1% year-over-year
  • Fresno, Calif.: +53.3%
  • Bakersfield, Calif.: +52.1%
  • Orlando, Fla.: +49.2%
  • Riverside-San Bernardino, Calif.: +46.4%
  • Phoenix-Mesa, Ariz.: +45.3%
  • Oakland, Calif.: +42.3%
  • Minneapolis-St. Paul, Minn.-Wis.: +38.4%
  • Lakeland-Winter Haven, Fla.: +38.4%
  • Buffalo-Niagara Falls, N.Y.: +38%

Still, inventories remain tight nationwide by historical standards, and in some markets, the number of homes for sale continues to fall. Inventories have dropped the most in Colorado Springs, Colo., by 12.4 percent in February compared to a year prior. Listings also dropped in Denver by 12.3 percent year-over-year, and in Columbus, Ohio, and Chicago, they dropped by 10 percent, realtor.com®’s analysis shows.

Source: realtor.com

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