Supply of Homes Continues To Grow, Reflecting Weak Sales

The number of homes listed for sale in 18 major metropolitan
areas at the end of April was up 7% from March, according to
data compiled by ZipRealty Inc., a national real-estate
brokerage firm in Emeryville, Calif. The data cover listings
of single-family homes, condos and town houses on local
multiple-listing services.
The increase was above the seasonal norm. Over the past 22
years, home inventories nationwide have increased an average
of 4.5% in April from March, according to Credit Suisse
Group. Spring is the busiest time of year for home shopping,
as families with children try to get settled ahead of the
next school year.
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