Inventories Shrink Nationwide But Prices Rise

The number of homes for sale nationwide continued to fall in September from a year ago, Realtor.com reported today. The 17.77 percent drop to 1.8 million units continues a trend that’s played out in every month this year so far.

For-sale inventory dropped on a year-over-year basis in all but three of the 146 markets tracked by Realtor.com in its report.

Nationwide, median list prices were up 0.78 percent from August to September, to $191,500 and have held steady throughout 2012 — another sign that the housing recovery is solidifying, the report noted. However, median list prices are still 23.37 percent off their early 2007 high of $249,900.

The entire report is available to read by clicking here.