Inventories Posted Big Drop in 2012
The number of homes on the market continues to fall, according to some real estate indicators. Inventories dropped 27 percent in December 2012 compared to December 2011, according to Movoto Real Estate.
The lower inventory is giving a boost to home prices, analysis from the company says. But many home owners are still cautious, keeping their houses off the market until prices appreciate more.
Generally, the number of homes for-sale hits lows in December before starting to increase in January and peaking during late summer. But last year, inventories continued to drop throughout the year.
Source: “Housing Inventory Steadily Declines in 2012,” HousingWire (Jan. 9, 2013)