Morning Minute: Housing inventory inching back up?

A new report released today by Realtor.com shows that housing inventory in some key U.S. markets increased in May. While still historically low, some regions are seeing “month-over-month inventories replenishing above usual seasonal patterns as sellers begin to respond to pent up demand,” according to Realtor.com.

In May, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,852,740) increased by 5.82 percent month-over-month. On an annual basis, May 2013 inventory decreased by 10.11 percent; compared to a 14.10 percent year-over-year decrease in May 2012.

The Wall Street Journal writes on the topic in the blog post, “Housing-Inventory Crunch Could Be Easing.”

In other headlines:

Housing Market Shrugs Off New Foreclosures – The Street

Luxury home market heating up – Belleville News-Democrat (via Los Angeles Times)

RealtyTrac: Home repossessions rose in May -Naperville Sun

 

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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