Inventory is growing as home sales decline. All three property types and five of the eight price ranges that the board of Realtors track are showing year-over-year increases in homes for sale. The biggest area of growth is in the lowest price ranges, where an influx of new foreclosures and short sales and a decline in sales post-tax-credit has led to the growth.
Sales are declining in all price ranges except the high-end markets above $500,000, where sales have eked out small gains over the last 12 months.
Sale prices are lowest in the condo & townhome segment, where the Average Price Per Sq Ft has dropped by 13.5%in the last year.
If you would like to know what home sales are doing in a specific area let me know and we can e-mail you a detailed report.
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