Rising Inventory Putting Pressure on Prices

Rising Inventory Putting Pressure on Prices

 

A continued rise in inventories of unsold homes in August signals further downward pressure on home prices in many parts of the U.S.  

 

Inventories of homes in 18 large metropolitan areas expanded by 3.5% in August, according to data compiled by ZipRealty Inc., a real-estate brokerage firm based in Emeryville, Calif. The data are based on single-family homes and condos included in local multiple-listing services of homes for sale.  

 

The biggest increases included 8% in Orlando, 6.4% in Seattle, 6.1% in San Francisco and 5.6% in Miami.  

 

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