Total inventory of for-sake homes on the market have decreased 23% compared to this same time last year. From December ’11 to January ’12 alone, the inventory dropped by 6%. What does this mean? Basic supply and demand models reveal that as housing inventories decline, the listing prices go up! Nationally, the average listing price has risen 3% annually.
“Over the past year, an increasing number of markets have registered year-over-year increases in median list prices while fewer markets have experienced year-over-year list price declines,” a statement by Realtor.com notes.
Hart Real Estate Solutions