The year-to-date inventory of for-sale listings nationwide has improved, as reported by Zillow. While 2013 may have begun with low numbers and alarming statistics compared to last year, Zillow reported an increase of for-sale listings beginning in June.

Experts suggest as the demand for homes increases, it is a matter of time before supply catches up to meet it. New homes are being built and more homeowners looking to sell are entering the market. As this supply enters the market, Zillow research suggests home value appreciation to balance at moderate levels, such as historic norms of 3-4 percent.

Here are a few highlights from the recent Zillow report:

  • Overall listings were down 12.2% at the start of June, but this is an improvement from 17.5% from January. This comes to a 5.3% improvement year-to-date.
  • 70 metropolitan areas have seen improvement in annual inventory. These areas saw the greatest improvement: Phoenix (31.9%), San Diego (14.9%), and Minneapolis (13.5%).
  • 29 metropolitan areas recorded worse conditions this year, including 11 of the top 30 markets. These areas saw the worst shortages: Las Vegas (fell 21.8%), Chicago (fell 12.3%), and Washington, D.C. (fell 9.8%).
  • The greatest decline was found in the middle- and top-tier homes nationwide, falling 15.7% compared to June of last year. Bottom-tier homes only fell 2.5%.

As recovery progresses and more homes enter the market, the need for real estate and mortgage professionals will begin to increase. The real estate industry will need to be streamlined and we are here to help.

Blue Streak Docs is a document retrieval company specializing in research, document recording, and property searches. We are dedicated to making your job easier by handling the details of the time-consuming process of document retrieval required in the industry. Let our trained staff handle your mortgage research, deed searches, and property title searches. For more information about our services and process, give our office a call today at 727-479-0007.

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