The Real Deal Miami

Fort Lauderdale leads nation in housing inventory declines

March 23, 2011 03:48PM

The inventory of unsold homes on multiple-listing services is on the rise nationwide. Last month, inventory rose by 0.6 percent from the month prior and by 13 percent year-over-year, the Wall Street Journal reported. Based on data from Move Inc., 107 markets saw an increase in listings, while only 39 saw inventory either decrease or remain flat when compared to January. (February typically sees a listings uptick as home sellers prepare for the spring buying season). On a year-over-year basis, only seven markets have seen home listings decline: Jersey City, N.J. and Orlando, Fla. are among them. Meanwhile, Fort Lauderdale, Fla. was the city with the largest inventory decline month-over-month, with listings down by 12.5 percent. San Francisco, Calif. had the biggest increase in competition amongst sellers, as its inventory rose 6.3 percent from January levels. [WSJ]