The inventory of Clark County houses listed for sale spiked upward in July, at the same time that fewer properties sold. The housing market’s cool-off appears linked to the June 30 end of federal home-buyers’ tax credits.
Without the incentives, fewer buyers made home purchases in July. That resulted in a supply of residential listings on the market that would take 12 months to sell off, if no new listings were added, according to Portland-based RMLS listing service. By contrast, the June housing inventory was at 6.8-months.
July’s inventory increased from July 2009, when 7.3 months worth of homes were listed for sale.