Monthly Inventory Rises for First Time in 33 Months | Chappaqua NY Real Estate

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The number of homes for sale in April inched 1.6 percent higher than in March, the first month-over-month inventory increase since June 2010, according to the April RE/MAX National Housing Report.
The months supply of homes for sale at April’s pace of sales was just 3.6 months, the lowest supply since the RE/MAX report began in August 2008.   Closed transactions and median prices both remained 10 percent higher than last year’s levels, signs of a strong housing recovery in regions across the country.  Low inventories contribute to a limited growth in sales, preventing some buyers from closing on the home of their choice.
“April was exactly what we needed at this time in the housing recovery.  Home sales and prices continued to rise, while we started to see improvement in the number of homes for sale,” said Margaret Kelly, CEO of RE/MAX, LLC.  “It may take a few months, but as prices rise and more homeowners gain positive equity, we should see an increase in the inventory of homes for sale, resulting in a much better selection for potential homebuyers.”



Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Monthly Inventory Rises for First Time in 33 Months | Chappaqua NY Real Estate

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