Housing inventory fell by 2.8 percent in the 27 major metropolitan areas between September and October, according to ZipRealty, a real estate tracking firm. This data is atypical for the season, according to another firm, Zelman & Associates, which told the Wall Street Journal that housing inventory generally goes up in October. Some analysts are attributing this trend to the first-time homebuyer tax credit. Although its impact in places like Manhattan is up for debate, the borough saw a 7.6 percent decline in inventory during the same time period.

The inventory of homes listed for sale in many U.S. cities declined 2.5
percent in July from the previous month, according to data from
California-based brokerage firm ZipRealty. The inventory was 27 percent
below July 2008 levels. ZipRealty’s figures cover single-family homes,
condominiums and townhouses, but foreclosed homes that banks are still
getting ready to sell aren’t included. The ZipRealty data also does not
include New York City, but according to appraisal firm Miller
Samuel, which includes co-ops as well as condos, July’s New York City
inventory was 7.8 percent lower than the inventory in June of this
year, but 6.9 percent higher than in July 2008. [more]

Appraisal firm Miller Samuel reports there were 10,369 co-op and condo units on the market in Manhattan at the end of April, up 20 percent from the same time last year. The number of homes for sale was down slightly, 0.7 percent, from March. Meanwhile, in 29 metropolitan areas nationwide, not including New York City, the supply of homes for sale in April fell 21 percent compared to the same time last year, according to ZipRealty. Nationally, inventories typically rise in April, but the number of homes for sale in the 29 areas fell 3.6 percent from the prior month. [more]