Realtor.com: Tightening inventories likely to push home prices up

20 Feb

Housingwire – Trey Garrison

Housing inventory continues to tighten in markets across the country – a 2015 trend identified by realtor.com Chief Economist Jonathan Smoke in its housing inventory data report for January.

Nationwide total listings declined by 6.7% month over month and about 8.7% year over year.

“January’s inventory data suggest a continuation of the tightening trend we identified last month in the December data, and with a shortage of inventory typically comes increased home prices,” Smoke said. “Half of the 200 markets realtor.com tracks experienced year-over-year price increases of at least 6% in January.”

Despite a shortage of inventory nationally, data on the 200 largest markets found a handful of housing markets categorized as healthy and growing.

>> Read More: http://www.housingwire.com/articles/32994-realtorcom-tightening-inventories-likely-to-push-home-prices-up

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