Housing inventory down in October

The supply of houses, listed for sale nationwide, fell by 2.8% in October. Normally, house supply increases by 1% in October, due to a seasonal slowdown in the market. Nationwide, October of this year had 29% fewer houses listed for sale than October 2008.

In Lane County, we fared even better with an October decline of 4.5% from September 2009 levels. October of this year was down 30%. The larger the decline, the better the market. The decline in inventory is due to cheaper prices and the government tax credit, I suspect.

Declining inventory indicates a strenghening market.

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