The inventory of houses for sale in Clark County dropped substantially in March as home sales improved, according to Portland-based RMLS listing service.
A 7.7-month supply of homes was listed in March, which was down from an 11.6-month supply in February and in March 2009. The number means that it would take 7.7 months to sell all of the homes listed for sale if no new listings were added.
Local real estate agents 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 April 30.
