Top 10 metros with Drop in Inventory

There is a real buzz around the industry right now. REALTOR.com recently reported a nationwide drop of 21 percent in listed homes in March 2012 vs. March 2011.  Atlanta ranks ninth on their list of most significant inventory reductions on their list of 146 metros with a decrease of 39.26 percent. Industry strategists are projecting promise in the real estate market. Experts are forecasting a shrinking number of homes on the market, fresher inventory, and an increase in median list price. We are starting to see activity around Metro Atlanta, drop in number of houses on the market, multiple offers on properties and increase in those receiving asking price or above.

Follow the links below to read the synopsis article from real estate authority Inman News as well as the original article and data from Realtor.com.

1) Top 10 Metros with Greatest Drop in For-Sale Inventory

Realtor.com: Spring buying season shows promise
By Inman News, Tuesday, April 17, 2012.

Editor’s note: Data collected and analyzed by Realtor.com through March 2012. Includes single-family homes, condos, townhomes and co-ops. U.S. housing market trends tracked by Realtor.com show a trifecta of promise: a shrinking number of homes on the market, fresher inventory, and an increase in median list price.

In 146 metros tracked by Realtor.com, the number of for-sale listings was down 21 percent in March compared to a year ago. All but two markets — Philadelphia and Hartford, Conn. — saw listing inventory decline, and 78 markets registered declines of 20 percent or more.
Link here to read complete article.

2) Realtor.com Real Estate Trends – March 2012 (DATA)
By Realtor.com, March 2012

National Trends – As the 2012 home buying season begins, key indicators are overall pointing in the right direction – towards stability.  The total US for-sale inventory in March 2012 was down by -21.48% compared to March 2011, declining in all but two of the 146 markets covered by Realtor.com.  The median age of the inventory fell by -19.82% on a year-over-year basis and the median national list price was up by 5.56%.   These positive indicators contrast with the situation at the beginning of the 2011 home buying season.
Link here to read complete article.