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Wednesday, July 27, 2005

Housing: More stories on Inventories

by Calculated Risk on 7/27/2005 01:12:00 PM

Here are three more stories that back up my prediction for July.

New Hampshire: Real Estate Listings In Area Skyrocketing

Along a 2-mile stretch of Route 302 - from Bethlehem Junction to the Memory Lane Apartments - the landscape is dotted with "for sale" signs.
As a result, the number of real estate listings in the greater Littleton area - including Bethlehem - have doubled since this time last year.
"Right near me every place is for sale,"
Florida: More Strand homes for sale
Home listings in the second quarter jumped 9 percent, from 2,916 to 3,165. Condo listings increased 36 percent from 2,636 to 3,584, according to the Multiple Listing Service for Horry and Georgetown counties.
California: Higher inventory takes some zing out of sellers' edge that dominated '04
Meanwhile, the latest level of unsold inventory [in Palm Springs], at about 3,296 homes - more than 80 percent higher than a year ago and more than twice the level of April 2004 - suggests that the market is reaching an equilibrium between the needs of buyers and sellers.

"This is not a buyer's market yet," said Greg Berkemer, executive vice president of the California Desert Association of Realtors. "It's just less of a seller's market than it was a year ago."