Homes for Sale Inventory and Median Price both Fall

HousingWire tells while 145 of 146 markets tracked by the National Association of Realtors (NAR) showed a drop in inventory of single-family homes, condos, and town homes by 23.2 percent in January 2012 from a year ago, the median list price fell $2,500 to $185,500 Dec. 2011 to Jan. 2012. Jan. 2011 the median list price was $189,248. says this shows the market is trying to stabilize. Springfield, IL was the lone market that had a year-over-year inventory increase. New York, Philadelphia, Hartford, CT, Syracuse, NY and El Paso, TX all showed insignificant drops in inventory indicating for sale inventory of housing remains high.

(Graphic credit: National Association of Realtors)

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