Industry News

Housing demand falling faster than inventories

Report: 15 of 19 markets saw inventories fall in Q4
Published on Jan 10, 2008

Inventories declined in 15 of 19 major U.S. markets during the fourth quarter as sellers dropped their listing prices in most areas, but time on market continued to increase, indicating that demand fell faster than inventories were reduced. That's according to the Real-Time Housing Market Report published by Altos Research and Real IQ, which claims to be the most timely source of housing market data "Sellers continue to adjust their price expectations downward but not quickly enough to keep pace with declining demand," Real IQ research director Stephen Bedikian said in a statement. "Until we see declines in both inventory levels and days on market, we won't have any confidence that supply and demand are balancing out." The report found listing prices fell in 16 of 20 major markets tracked, and that inventories fell in every market except Tampa, Miami, Charlotte and Cleveland. But average days on market increased in 15 of 17 metropolitan statistical a...

Comments