Wall Street Journal

The number of homes listed for sale continued to decline in July, falling 1.2% from June and nearly 18% from one year ago. Data from Realtor.com show that there were 2.31 million homes listed for sale at the end of July. That is the lowest level for July since the series began in 2007. Inventories tend to decline in July as the spring sales rush gives way to summer vacations. Zelman & Associates, a research firm, says July listings have typically fallen by 0.8% from June over the past 28 years. The Realtor.com figures include sale listings from more than 900 multiple-listing services across the country. Click here to continue reading at WSJ.com ...