Shrinking for-sale inventory is being felt in markets across the country. Nationwide, the number of for-sale listings was down 21 percent in March compared to a year ago, according to Realtor.com.
In 146 metro areas tracked by Realtor.com, all but two have seen year-over-year declines in the number of homes listed for sale, and over half have had declines of over 20 percent. Using the Realtor.com data, Inman News compiled the top-ten metro areas with the sharpest year-over-year declines in inventory – see Top 10 metros with greatest drop in for-sale inventory.
| Metro Area | % Decline in Y-o-Y For-Sale Inventory |
|---|---|
| Oakland, Calif. | 51.9 |
| Bakersfield, Calif. | 50.4 |
| Phoenix, Ariz. | 48.0 |
| Fresno, Calif. | 45.6 |
| Miami, Fla. | 42.4 |
| Fort Lauderdale, Fla. | 39.7 |
| Seattle-Bellevue-Everett, Wash. | 39.4 |
| Atlanta, Ga. | 39.3 |
| Orlando, Fla. | 39.0 |
| Portland-Vancouver, Ore.-Wash. | 38.8 |
As can be seen in the table above the Y-o-Y inventory declines range from 51.9 percent (in Oakland, Calif) to 37.8 percent (in the Portland-Vancouver market).
I guess that the Reno-Sparks market is not one of those 146 metros tracked by Realtor.com, because if it was, the top spot on the list above would be Reno-Sparks, Nev. with a year-over-year for sale inventory decline of 57.6 percent.
First
Completely artificial processes produced these numbers.