The highest growth in inventory from one year ago is occurring in previously owned single-family detached homes- up 18.8 percent from this time in 2006. The lion's share of that inventory increase can be found in that cost below $190,000. In most upper-bracket price ranges, the supply of homes for sale is actually decreasing.
The biggest decline in price per square foot can be found in new construction properties- down 4.7 percent comparing sales from the last twelve months to the twelve months before that. New condominiums especially are being sold at a relative discount price compared to last year, with a drop of 7.1 percent in price per square foot.
Not surprisingly, new construction home sales have declined substantially from the heights of the past few years. Sales of new single- family detached homes have declined the least of all new construction properties.
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