Number of homes listed for sale dropped in December

The number of homes listed for sale in many metropolitan areas dropped in December, but the decline was not as steep as it usually is over the holidays. The supply of homes for sale in 29 metropolitan areas was down 6.4 percent from November, according to California-based brokerage firm ZipRealty. Over the past quarter-century, the drop between November and December has averaged 11 percent. About 4.2 million previously occupied homes were listed for sale at the end of November, an inventory that could last about 11 months. The ZipRealty survey does not include New York City.