Inventories
in May declined in all but two -- Philadelphia and Shreveport-Bossier City, La.
-- of the 146 markets tracked by Realtor.com.
While
inventories were on the decline, the median national list price was on the rise,
inching up 3.17 percent in May compared to May 2011.
“These
key indicators continue to suggest that the housing market is steadily moving
along a path of stabilization and gradual recovery,” Realtor.com notes.
12
Markets Where Inventories Have Dropped the Most California metro areas are
seeing some of the largest drops in inventories of for-sale homes.
From
May 2011 to May of this year, the following metro areas have posted the highest
drops in the country with their housing inventories, with inventories falling 35
percent or more in the last year. Those metros are:
1.Oakland,
Calif.: -56.60%
2.Fresno, Calif.: -48.76%
3.Bakersfield, Calif.: -48.59%
4.Phoenix-Mesa, Ariz.: -44.71%
5.Seattle-Bellevue-Everett, Wash.: -42.65%
6.San Jose, Calif.: -40.80%7.Tampa-St. Petersburg-Clearwater, Fla.: --39.76%
8.Stockton-Lodi, Calif.: -39.25%
9.Atlanta: -39.19%
10.San Francisco: -38.90%
11.Riverside-San Bernardino, Calif.: -37.43%
12.Sacramento: -35.92%
By Melissa Dittmann Tracey, REALTOR® Magazine Daily News
2.Fresno, Calif.: -48.76%
3.Bakersfield, Calif.: -48.59%
4.Phoenix-Mesa, Ariz.: -44.71%
5.Seattle-Bellevue-Everett, Wash.: -42.65%
6.San Jose, Calif.: -40.80%7.Tampa-St. Petersburg-Clearwater, Fla.: --39.76%
8.Stockton-Lodi, Calif.: -39.25%
9.Atlanta: -39.19%
10.San Francisco: -38.90%
11.Riverside-San Bernardino, Calif.: -37.43%
12.Sacramento: -35.92%
By Melissa Dittmann Tracey, REALTOR® Magazine Daily News