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LA: Fat on Housing Inventory

Because the Wall Street Journal charges for their articles, we have to cobble together information from their stories from oddly-named web sites such as Finfacts Ireland. Anyway, today's WSJ story about housing inventory cites a ZipRealty study claiming that Los Angeles was the metro area with the biggest increase in inventory at the end of March (12.8%), followed by San Francisco (12.2%) and Washington, D.C. (9.4%). Even construction-bloated Miami only had an increase of 1.8% (although inventory is up there 60% for the year.) According to Credit Suisse Group, home inventory levels typically increase an average of 1.7% in March from February.

Meanwhile, this chart from the WSJ story shows that 31.9 percent of homes in Los Angeles dropped their home prices in March. Boston led in that category, with 39.2 percent of homes going down in price.
· Big rise in US homes put on market in March [Finfacts Ireland]
· Supply In Control [Minyanville]