The total number of U.S. homes on the market fell 6.2 percent from November to December, to 1.73 million units, days on market was up 11 days to 112, and the median list price declined from $197,700 to $194,500, realtor.com operator Move Inc. reported today.
To some degree, those numbers reflect the seasonal slump that’s seen every year. But realtor.com said listing inventories are up just 1 percent from a year ago — modest growth considering all the rhetoric about a housing recovery.
Looking back a year, median list price was up 8.1 percent and days on market was down 5.1 percent — more convincing evidence that a recovery is underway, at least in many markets. Only 14 of the 142 markets tracked by realtor.com showed year-over-year declines in average list price. Source: realtor.com.