National Report Shows Year-To-Year Inventory Declines are Easing

SAN JOSE, CA-Realtor.com, the leader in online real estate operated by Move, Inc., has released the realtor.com National Housing Trend Report for the month of July 2013. July’s real estate market data shows the nation experienced a 5.24% decline in housing inventory, which is the second month in a row with year-over-year inventory declines in the single digits. National median list prices increased 5.27% year-over-year while median age of inventory is down 16.67%.

While California markets have dominated the list of markets with the largest housing inventory declines in the first part of 2013, they have been replaced by a new set of market leaders including: Detroit, Boston; Denver; Honolulu and Naples, FL. The large decreases in the for-sale inventory in these markets suggests the beginning of a housing market recovery process similar to what was observed in Florida in 2011, and in California in 2012 and 2013.