Stacie Hartman

The Mortgage Blog of Stacie Hartman

Inventory Up For Eighth Straight Month

The number of homes for sale rose for the eighth straight month in August. According to real-estate brokerage firm, ZipRealty, inventory was up 0.4 percent from July and 10.6 percent above the year before in the 26 major metropolitan markets tracked. And though inventory typically rises in August, the modest increase remains troubling considering, at the current sales pace, it would take 12.5 months to clear the backlog of unsold homes, which are at their highest level since November 2008 according to data from research firm, Zelman & Associates. Patrick Lashinsky, president and CEO of ZipRealty, feels housing inventory will continue to rise through the remainder of the year. More here, here and here.

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