Jersey Shore For-sale housing inventory drops 22%, near a 2-year low

Thanks to the REALTORS in the trenches we are seeing the start of a real estate recovery. Long hours of consulting clients and customers has gotten us through one of the worst real estate down turns. I have been saying this for months, that the inventory have been drying up and noticing a shorter period of time properties are staying on the market. The data is saying buy now or pay more later on. Prices over the next six to 12 months will still be par with these prices since real estate trails the market. ~ IML

7% Jump in US Median List Price
For-sale housing inventory drops 22%, near a 2-year low

Data courtesy Inman News.

Median list prices jumped 1 percent or more on a year-over-year basis in February for about 73 percent of the 146 markets tracked in a report released this week by Realtor.com.

On a national basis, the median list price rose about 7 percent year over year in February.

Among the top 10 markets for the highest year-over-year hike in list prices in February, seven were in Florida — Miami topped the chart with a 26.2 percent increase, according to the report.

The median list price of homes tracked by Realtor.com rose $2,500 between January and February 2012, to $188,000, which is 6.82 percent higher than the median list price was a year ago when it was at a two-year low. February 2012′s median list price is on par to what it was in February 2010.

Only two markets showed a year-over-year increase in for-sale inventory, according to the data: Philadelphia and Springfield, Ill.

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