Inventory declines hitting all price tiers

Zillow analysis California sees sharp decline

A new report from online real estate marketplace Zillow Inc. shows the number of homes for sale nationwide fell 19.4 percent during the year ending Sept. 30.

The Zillow Research report divides inventory on the site into three price tiers for each market covered. Nationwide, the upper tier showed the highest reduction in inventory at 22 percent, followed by the middle tier at 18.6 percent and the bottom tier at 15.3 percent.