U.S. housing inventory data points to stabilization
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A boy rides his bike past several abandoned houses in a former thriving working-class neighborhood that is now littered with blight in Flint, Michigan July 8, 2009.
NEW YORK (Reuters) - The U.S. housing market is showing signs of stabilization, according to inventory data released on Monday by national real estate brokerage ZipRealty.
Emeryville, California-based ZipRealty reported a drop in the number of Multiple Listing Service-listed homes for the 12th consecutive month in June.
The number of single-family homes and condos listed for sale decreased in June from May by 2.1 percent, bringing the total number of active listings in 28 major U.S. markets to 696,858, the company said.
Additionally, ZipRealty tracked an increase in the median list price in the 28 markets to $270,440 in June from $270,027 in May. Despite the sequential increase the median list price still decreased 2.72 percent when compared to June 2008.
