Daily Real Estate News | March 9, 2010
The inventory of homes for sale was up 4.2 percent at the end of February, compared to the prior month in the 27 major metropolitan markets covered by ZipRealty Inc.
On average, over the last 27 years, the increase of houses on the market in February has been 3.4 percent, according to Ivy Zelman, CEO of Zelman & Associates research firm.
Zip’s data includes all the residential properties listed on the local multiple-listing services where it does business. Compared with January 2009 in the Zip markets, inventory was down about 19 percent.
Source: The Wall Street Journal, James R. Hagerty (03/08/2010