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July 26, 2014

Report: Inventories Rise 14% Nationwide

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Report: Inventories Rise 14% Nationwide

The number of single-family homes for sale is on the rise along with home prices, indicating a “healthier real estate marketplace than a year ago and strong seller confidence,” according to realtor.com®’s National Housing Trend Report for April, which was released Wednesday.

For-sale inventories rose 14.2 percent in April compared to year-ago levels, while median asking prices rose 6.5 percent. The median list price was $207,500 nationwide in April, and the median age of inventory rose 6.2 percent compared to a year ago, averaging 86 days. 

The following metros posted the largest increases in listing inventory in April compared to year-ago levels: 

  1. Buffalo-Niagara Falls, N.Y.: +78.9%
  2. Orlando, Fla.: +78.2%
  3. Orange County, Calif.: +70.3%
  4. Bakersfield, Calif.: +66.5%
  5. Chattanooga, Tenn.-Ga.: +66.4%
  6. Melbourne-Titusville-Palm Bay, Fla.: +62.5%
  7. Riverside-San Bernardino, Calif.: +62%
  8. Minneapolis-St. Paul, Minn.-Wis.: +61.3%
  9. Fresno, Calif.: +60.7%
  10. Charleston-North Charleston, S.C.: +57.7%

Source: realtor.com®

Read more:

Home Sales, Inventories Reach a Turning Point?
Low Inventory Spurs More All-Cash Offers
10 Markets Where Inventories Are Rising Fast