Markets & Economy Buyer demand continues into October, pushing up prices on scarce inventory

Listing data defying seasonal patterns

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

An analysis of listings data released today by 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 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. 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 was up 7.6 percent, to $199,000. Although the country is still experiencing "significant supply shortages," inventories are "stabilizing" compared to the dramatic year-over-year declines seen earlier this year, said in releasing October data. said the number of markets where inventories were down by 5 percent or more from a year ago ...