ZipRealty Reports Inventory Declines
ZipRealty reported that the number of homes for sale nationwide declined by nearly 5 percent in December. Markets with the largest inventory declines compared to November included Boston, down 13.3 percent; San Francisco Bay Area, down 12.1 percent; Denver, down 9.2 percent; Minneapolis-St. Paul, down 9 percent; and Seattle, down 7.9 percent.The data was compiled from multiple listing services in the markets where the real estate brokerage does business."Seasonality and the heavy activity by first-time home buyers in October and November, who were rushing to take advantage of the tax credit, impacted housing inventory in December," ZipRealty CEO Patrick Lashinsky said in a statement.
Source: Reuters News, Julie Haviv (01/13/2010)
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