Industry NewsMarkets & Economy

For-sale inventories shrink for fourth month in a row List prices holding steady or posting gains in two-thirds of markets
Published on Sep 14, 2011

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by CareyBot

Inventories of homes, condos, townhouses and co-ops shrank for the fourth month in a row in August, falling 1.9 percent from July and 19 percent from a year ago, to 2.27 million, according to the latest numbers from

Among the 146 markets most searched by users, the total number of listings increased from a year ago in only three: Denver, Colo. (+53.8 percent), El Paso, Texas (+6.3 percent) and Hartford, Conn. (+2.2 percent).

Inventories were down by 10 percent or more from a year ago in 118 markets, including declines of nearly 50 percent in Miami, Orlando and Fort Myers.

Shrinking inventories can signal a rise in demand, but may also reflect a slowdown in homes moving through the foreclosure process that restricts the supply of real