Industry NewsMarkets & Economy

Inventory declines for 17th straight month

Listings fall 2.42% in November

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

The number of nationwide home listings continued to slip for the 17th straight month, according to a study by ZipRealty, a national real estate brokerage. The number fell 2.42 percent in November compared to October, and is down 27.64 percent year-over-year. ZipRealty's November Housing Inventory Index is a monthly report of homes listed for sale on multiple listing services (MLSs) in the 27 major U.S. metropolitan areas surveyed. There were 579,413 single-family home and condo listings within all 27 markets tracked in November, down from 593,794 in October. Markets with the most significant year-over-year inventory declines have seen median list price increases over the same period, ZipRealty reported. They include San Diego and Los Angeles, both with a 53.7 percent inventory decline; the San Francisco Bay Area, at 51.8 percent; Las Vegas, at 51 percent; and Phoenix, with a 40.7 percent decline. Markets with the most significant month-over-month inventory declines: Boston, d...