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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