Listing Inventory Takes Critical Hit

Listing inventory is taking a critical hit, with 9 percent fewer for-sale homes on the market now than one year ago, a slump not seen in four years, according to the May Zillow® Real Estate Market Reports. The Columbus, Ohio, San Jose, Calif., and Minneapolis, Minn., markets have seen the steepest declines, at around 30 percent.
Supply continues to drag behind demand due to a convergence of several conditions, says Zillow Chief Economist Dr. Svenja Gudell.
“Inventory has been falling f