Inventory Sprung Up this Spring!
The spring home buying season is off to a stronger start than at this time last year, with modest price increases and a spike in inventory, according to realtor.com’s National Housing Trend Report for March.
The number of properties for sale on realtor.com® in March rose 9.5% above March 2013 levels, to 1,841,844 units, according to the report. The median list price of $199,900 was 5.3% higher than in March of last year, and the median age of inventory increased 22.9% above the year-ago figures, to 102 days on the market, the report’s data showed. Things are a bit different here locally in the Hayward/Castro Valley/San Leandro area. While inventory is creeping upward, we are still lower than normal for this time of year. For example, in Hayward there is 1.3 months of supply. In November, there was a .7 months inventory. So while inventory is loosening up a bit, we have ways to go to be at normal inventory levels….
See more at the link below….