Nationally, home listings fell in August

The supply of homes in 29 major metropolitan areas was down 2.6 percent in
August from July, according to Calif.-based brokerage ZipRealty. Inventory declined largely because many foreclosed homes are selling at “distressed
prices,” which also drags down prices for all types of homes, said housing
research firm Zelman & Associates. Nationally, Zelman & Associates say, inventory
usually grows modestly between July and August.