The total number of single-family homes available for sale is down to 1.84 million units, according to data through the end of August. The numbers, released by the National Association of Realtors, show that housing inventory is 18.68 percent below last year’s level and the median age of homes on the market has fallen nearly 12 percent. According to the report, low inventory and increasingly stable prices are evidence that the market is poised for additional growth. The data also shows that the recovery process has moved to the western states, with list prices rising in most California markets and metropolitan areas such as Phoenix, Boise City, Seattle, and Reno. More here.
