The Wall Street Journal reported that the nation’s listed inventory is the at its lowest level in four years. December’s inventory was 6 percent below November’s listed inventory; and represented a whopping 22 percent decline from the previous December.
The WSJ piece states “Inventories were down for the year in all but one of the 145 markets tracked by Realtor.com, with Springfield, Ill., posting the only year-over-year inventory gain.”
How does the local inventory compare to the Nation’s? Looking at the most recent numbers (see December median sold price, units, DOM, $/sq.ft.) I see that December 2011’s Active listed inventory for Reno-Sparks, Nevada was 1,403 units. This number represented a 9.2 percent decline from November’s 1,545 Active listings, and a 30.6 percent decline from December 2010’s Active inventory.