Editor’s note: Data collected and analyzed by Realtor.com through May 2012. Includes single-family homes, condos, townhomes and co-ops.
The national housing market continues to stabilize, according to data compiled by Realtor.com for 146 U.S. metros through May 2012.
May continued April’s year-over-year upswing, with for-sale inventory dropping 20.07 percent, median list prices jumping 3.17 percent to $194,900, and median age of for-sale inventory falling 9.78 percent compared to a year ago.
| Data Point | Percent Change, May 2012 vs. May 2011 |
| Number of Listings | -20.07% |
| Median List Price | 3.17% |
| Median Age of Inventory | -9.78% |
As of May, national for-sale inventory stood at 1.88 million units, roughly 60 percent of a September 2007 inventory peak of 3.1 million units (2007 was the first year Realtor.com tracked this data nationally).
Despite a slight 1.96 percent month-over-month increase in national inventory — expected because listings usually swell during the springtime buying season — all but two of the 146 metros Realtor.com tracks had fewer homes for sale than a year ago.
Some of those markets hit hardest in the housing crisis — Atlanta and metros in Florida, Arizona and California — are showing some consistent, month-by-month turnaround. In May, Phoenix, Tampa-St. Petersburg, Fla., and Atlanta were among the top 10 metros Realtor.com tracks with year-over-year percentage drops in for-sale inventory.
This month, six of the metros in the top 10 that saw the greatest reduction in inventories from a year ago were in California, including three in the San Francisco Bay Area: Oakland at No. 1 (56.6 percent fewer listings than a year ago); San Jose at No. 6 (40.88 percent fewer listings); and San Francisco at No. 10 (38.9 percent fewer listings).
Top 10 metros for greatest year-over-year reduction in for-sale inventory, May 2012
| Rank | Metro | For-sale inventory, percent change, May 2012 vs. May 2011 |
| 1 | Oakland, Calif. | -56.60% |
| 2 | Fresno, Calif. | -48.76% |
| 3 | Bakersfield, Calif. | -48.59% |
| 4 | Phoenix-Mesa, Ariz. | -44.71% |
| 5 | Seattle-Bellevue-Everett, Wash. | -42.65% |
| 6 | San Jose, Calif. | -40.80% |
| 7 | Tampa-St. Petersburg-Clearwater, Fla. | -39.76% |
| 8 | Stockton-Lodi, Calif. | -39.25% |
| 9 | Atlanta | -39.19% |
| 10 | San Francisco | -38.90% |
Source: Realtor.com
Location: Oakland, Calif.
| For-sale inventory, year-over-year change (%) | -56.60% |
| Number of listings | 3,899 |
| Median age of inventory (days) | 23 |
| Median list price | $369,000 |
…CONTINUED
Location: Fresno, Calif.
| For-sale inventory, year-over-year change (%) | -48.76% |
| Number of listings | 2,258 |
| Median age of inventory (days) | 41 |
| Median list price | $171,430 |
…CONTINUED
Location: Bakersfield, Calif.
| For-sale inventory, year-over-year change (%) | -48.59% |
| Number of listings | 1,855 |
| Median age of inventory (days) | 39 |
| Median list price | $140,000 |
…CONTINUED
Location: Phoenix-Mesa, Ariz.
| For-sale inventory, year-over-year change (%) | -44.71% |
| Number of listings | 14,315 |
| Median age of inventory (days) | 54 |
| Median list price | $185,550 |
…CONTINUED
Location: Seattle-Bellevue-Everett, Wash.
| For-sale inventory, year-over-year change (%) | -42.65% |
| Number of listings | 6,540 |
| Median age of inventory (days) | 43 |
| Median list price | $340,000 |
…CONTINUED
Location: San Jose, Calif.
| For-sale inventory, year-over-year change (%) | -40.80% |
| Number of listings | 3,779 |
| Median age of inventory (days) | 43 |
| Median list price | $528,844 |
…CONTINUED
Location: Tampa-St. Petersburg-Clearwater, Fla.
| For-sale inventory, year-over-year change (%) | -39.76% |
| Number of listings | 17,082 |
| Median age of inventory (days) | 86 |
| Median list price | $149,900 |
…CONTINUED
Location: Stockton-Lodi, Calif.
| For-sale inventory, year-over-year change (%) | -39.25% |
| Number of listings | 2,099 |
| Median age of inventory (days) | 56 |
| Median list price | $160,000 |
…CONTINUED
Location: Atlanta
| For-sale inventory, year-over-year change (%) | -39.19% |
| Number of listings | 46,974 |
| Median age of inventory (days) | 64 |
| Median list price | $169,900 |
…CONTINUED
Location: San Francisco
| For-sale inventory, year-over-year change (%) | -38.90% |
| Number of listings | 3,636 |
| Median age of inventory (days) | 42 |
| Median list price | $699,900 |
Inman News reporter Paul Hagey compiled this report.
