Nationwide Housing Inventory Climbs in July

by John Tayeb on August 10, 2010

The nationwide inventory of homes for sale increased in July, a month when the number of the homes on the market usually declines.

ZipRealty Inc. says the supply of homes in the 26 major metropolitan areas in which it does business rose 2.6 percent compared to June. This was the seventh straight month-over-month increase. Zelman & Associates research firm says listings have typically declined in July by 0.8 percent.

Western markets saw the high increase with homes for sale up 9.6 percent in Las Vegas; 7.9 percent in Orange County, Calif.; and 6.3 percent in San Diego and the San Francisco Bay area.

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Source: The Wall Street Journal, Nick Timiraos (08/06/2010)