Homes-for-sale supply increases on weaker demand

By Cami Joner, Columbian retail & real estate reporter

Published:

Updated: December 16, 2010, 4:34 PM

 

Dormancy continued to plague Clark County’s housing market in November, when the supply of homes for sale was significantly greater than buyer demand for the fifth month in a row, according to a report issued Thursday by Portland-based RMLS, the regional listing service.

The report tallied up more than 4,000 houses listed for sale last month in Southwest Washington, which includes Clark County and Woodland. It would take 11.7-month to sell them all, if the same sales pace continues and no more houses are added to the market. The inventory level was up from 11.1 months worth of inventory in October and from 7.3 months in November 2009.

From January through November, RMLS reported a 3.3 percent drop in home sales compared with the same period last year, while home prices rose slightly. November’s median price was $200,000 for all Southwest Washington home sales tracked by RMLS, up from $198,500 in the same month last year.