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Honolulu housing inventory declines among the highest

The Honolulu housing market had among the largest declines in year-over-year for-sale inventories, according to the Realtor.com National Housing Trend Report.

Honolulu’s for-sale inventory was down 23.78 percent in July, down from a year-ago, representing the fourth-largest decline among five market areas measured.

The largest decline in for-sale inventory was the 30.21 percent in Detroit, Mich., followed by the 28.91 percent drop in the Massachusetts market area including Boston, Worcester, Lawrence, Lowell and Brockton.

Denver’s 25.10 percent decline was third, followed by Honolulu, with the 23.05 percent inventory drop in Naples, Fla. coming in at No. 5.

Nationally, however, Realtor.com found the 5.24 percent decline in housing inventory was the second consecutive month of single-digit declines. National median list prices rose 5.27 percent, while the median age of inventory dropped 16.67 percent.

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