Industry News

Real estate inventory swells 60% in top metro areas

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The number of existing homes listed online for sale in the largest 100 metro areas in the nation grew 60 percent from May 2005 to May 2006, according to an analysis of homes listed online at the property-search site. The survey, conducted by Corzen, a real estate research firm based in New York City, found that the inventory of homes listed in these metro areas grew from 1.3 million in May 2005 to 2.3 million in May 2006. Median list prices were up 8.4 percent from May 2005 to May 2006, while "in some parts of the country ... median asking prices showed steep declines, a clear sign of softening with the real estate market," Corzen announced today. List prices for existing homes dropped most in Florida, California, Massachusetts and Washington, D.C.-area suburbs in Virginia, Corzen also reported. The company's monthly survey is based on a ZIP-code-by-ZIP-code analysis of homes listed on The company gathers data on every home listed for sale, including the loca...