Housing inventory continues to decline.
At the end of November, 2.03 million existing homes were available for sale―a 4.8 month supply at the current sales pace. There haven’t been this few homes on the market since September 2005, when the supply would have lasted 4.6 months.
Asking prices of homes listed for sale on real estate portal Trulia.com in January were up from a year ago in 86 of the 100 largest U.S. metros, according to a monthly report released today.
The report, which covers roughly 4.5 million for-sale and for-rent properties listed on Trulia through Jan. 31, showed asking prices up 5.9 percent from a year ago, and growing by a seasonally adjusted 0.9 percent from December to January — the biggest month-over-month gain since March 2012.
