Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

An analysis of listings data released today by realtor.com suggests that homes continued to turn over quickly in October, in defiance of seasonal patterns and in spite of price increases driven by inventory shortages in many markets. The 1.9 million homes listed on realtor.com during October had been on the market for 94 days on average -- up slightly from 93 days in September, but down 11.3 percent from a year ago, indicating demand for housing remains strong. Realtor.com rival Zillow reported a similar trend last week. With inventory down 1.5 percent from a year ago, the median list price of homes listed on realtor.com was up 7.6 percent, to $199,000. Although the country is still experiencing "significant supply shortages," inventories are "stabilizing" compared to the dramatic...