The number of homes for sale at the end of September was down 3.27 percent from August and 20.09 percent from one year previous. According to data released by the National Association of Realtors, the national inventory of single-family homes, condominiums, townhouses, and co-ops fell significantly in the last year, suggesting inventory is returning to seasonal patterns. The data also showed the national year-over-year median price was $190,000, up 1.60 percent from one year ago. After falling following the expiration of the homebuyer tax credit, home prices have remained relatively stable for the past six months. The stability in prices, along with falling inventory, can be viewed as positive indicators for the housing market. More here.
