The median age of inventory of for-sale homes has dropped nearly 12
percent compared to year-ago levels, according to October housing data
from Realtor.com.
With inventories shrinking nationwide and hovering at historic lows, homes are selling faster in many parts of the country.
“Lower inventories, combined with somewhat higher median list prices,
suggest that the housing market ending the 2012 home-buying season is
in better shape than it was a year ago,” according to a Realtor.com
release.
California boasts the most number of housing markets seeing some of
the lowest median age of inventory in October. In Oakland, Calif., the
median age of inventory is the lowest in the country at 21 days, a 57
percent decrease over year ago levels. Read more
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