Sellers new listings are up 15%, but most of the gains are in the traditional sellers, which is up a huge 39%. Foreclosures and short sales listings are both down almost 50% each. This is great news, that the market is more stable than before, with fewer foreclosures and short sale properties.
Overall the inventory declined 3.7%, and is at a 10 year low. 3.5 months of supply means that there are multiple offers on many homes.
The median sales price is up 11% over last year to $195,000.
Watch the video for the full scoop