Notes and Opinions from one of Arizona's Most Trusted Loan Teams

ZipRealty Inc. reports a 2.4-percent decline in housing supply in 18 major metropolitan areas during the year-over-year period ended in June. On a month-to-month basis, the report indicates that residential inventory held steady. The number of homes for sale fell 22.4 percent in Sacramento, 18.5 percent in Las Vegas, and 10.6 percent in Dallas from June 2007 but rose 29.1 percent in Seattle and 12 percent in Baltimore. In Florida, inventory was up 6.7 percent in Miami-Fort Lauderdale but dropped 7 percent in Tampa and 3.1 percent in Orlando. The National Association of Realtors reports 4.5 million existing-homes on the market at the end of May, equivalent to a nearly 11-month supply.
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From "Home Supply Fell Over Past Year"
Wall Street Journal (07/10/08) P. D3; Hagerty, James R.

Always glad to hear more good news. JL