(Source: The Wall Street Journal)
The number of homes listed for sale declined in many U.S. cities in November, but more houses are likely to hit the market early in 2010.
The supply of homes available for sale in 27 major metropolitan areas at the end of November was down 2.4% compared with a month earlier, according to figures compiled by ZipRealty Inc., a real-estate brokerage firm based in Emeryville, Calif.
Inventories typically decrease modestly in November compared with the previous month, according to Zelman & Associates, a research firm. Over the past 25 years, the average change has been a decline of 1.8%.
Read the full article by James R. Hagerty, “Housing Inventory Declines” in the Wall Street Journal (Dec 9 2009).
Read about October’s housing inventory decline here.