Local Areas & All of Chester County
Jean’s May Analysis
Housing Inventory Drops in May: According to data compiled by ZipRealty, Inc., a real estate brokerage firm, the supply of homes available for sale in 28 major metropolitan areas dropped 3.9% in May from April. The data published includes condos, single-family homes and town houses listed on local MLS’s. The inventory in May dropped 24% year-over-year. Thomas Lawler, a housing economist, says the decline in housing inventory indicates “that home prices in many parts of the country could be nearing a bottom.” However, some economists have a different view and expect home prices to continue to drop for many years to come.
