Seattle Tops List of Tightest Housing Inventories

Jan 17, 2017

How bad is the housing inventory? Well, it is so bad that Realtor.com decided to abstain from its monthly report on the nation’s hottest housing markets and is offering a list of the 10 cities with the biggest housing shortages.

“More than two-thirds of the markets are seeing less inventory now compared to a year ago,” says Jonathan Smoke, Realtor.com’s chief economist. “Tight credit and limited new construction are clearly at play.”

Topping the new ranking of too-tight housing markets is Seattle, with a 0.4 percentage of housing stock for sale and a 13.4 percent decrease in for-sale homes in 2016—or, to be more precise, a market where only one in every 263 homes is for sale. Eugene, Ore., was close behind in second place, with a 0.6 percentage of housing stock for sale and a 27.3 percent decrease in for-sale homes in 2016.

Rounding out the top 10 are Grand Rapids, Mich.; Buffalo, N.Y.; Fort Wayne, Ind.; Sacramento, Calif.; Detroit; Portland, Ore.; Santa Rosa, Calif.; and Omaha, Neb.

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Phil Hall

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Jan 17, 2017

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