Industry News

Housing inventory grows in some major markets

Part 2: Signs of a changing real estate market

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Editor's note: In this four-part series, we observe some of the latest changes taking place in housing markets – some subtle and some rapid. Read Part 1: Perfect home, perfect staging, imperfect market; Part 3: The end of multiple offers and Part 4: 10 signs of a changing housing market. Housing inventory is creeping up – an indication that demand is not keeping pace with supply. While the national unsold inventories of new and existing homes still remain at levels that indicate we're still in a seller's market, some local markets are reporting rapid signs of cooling. "Our current inventory is almost twice now what it was in September of last year," said Rob Emerick, president of Planet IDX, a real estate technology company based in Las Vegas, Nev. There were some areas of Las Vegas in which homes sold in one to three days – now it's common for properties to remain on the market for a month or longer, he added. "It's not horrible, but in comparison it's like nig...