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Inventory of homes stays near three-year low

The Columbian
Published: January 16, 2010, 12:00am

CLARK COUNTY — The inventory of houses for sale in Clark County continued to hover at a three-year low in December, according to Portland-based RMLS listing service.

A 7.9-month supply of houses was listed for sale here in December, up slightly from a 7.3-month supply in November, but down from 14.8 months in December 2008 and 12.7 months in the same month in 2007.

Local Realtors attribute the shrinking inventory to higher demand for houses, as first-time and move-up home buyers rush to take advantage of low mortgage interest rates and tax credits set to expire in June.

December’s inventory number means that it would take 7.9 months to sell all of the homes listed for sale if no new listings were added.

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