by Calculated Risk on 8/15/2012 06:00:00 AM

From Realtor.com: July 2012 Real Estate Data

The total US for-sale inventory of single family homes, condos, townhomes and co-ops (SFH/CTHCOPS) remains at historic lows across the country, with 1.866 million units for sale in July, down -19.25% compared to a year ago and -39.80% below its peak of 3.10 million units in September, 2007 when Realtor.com began monitoring these markets.

The median age of the inventory of for sale listings was 88 days in July 2012, up slightly from June (84), but -9.27% below the median age one year ago (July 2011). While the median age of the inventory is highly seasonal, the year-over-year decline is consistent with other data showing a significant improvement in market conditions compared to one year ago.

For sale inventories of SFH/CTHCOPS in July declined on an annual basis in all but two of the 146 MSAs monitored by Realtor.com, with for-sale inventory dropping -20% or more in 67 of the 146 markets covered. Eight out of 10 MSAs with the largest year-over-year declines in their for-sale inventories in July 2012 are in California.

Only two areas experienced a year-over-year increase in their for-sale inventories— Shreveport, LA (+23.06%), and Philadelphia, PA (+3.04%).

The NAR is scheduled to report July existing home sales and inventory next week on Wednesday, August 22nd. The key number in the NAR report will be inventory, and inventory will be down sharply again year-over-year in July.