|With sales of existing homes elevated all year — they were up 34%last month compared with September 2010 — inventory is drying up.|
The supply of homes in the county was down 39% September from the same time last year, with fewer then 9,900 single-family homes for sale.
Florida Realtors Chief Economist John Tuccillo said a healthy market has about a five-and-a-half month supply of inventory.
Palm Beach County’s inventory of single-family homes stood higher than that in August, at seven months, but it is much lower than it was in 2009 when the market was mired in 17 months’ worth of inventory.
Source Palm Beach Post 10/21/2011