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Economics

West Coast Homebuyers Get One Benefit From Sales Slowdown

  • Supply of listings jumps in some of hottest U.S. metro areas
  • Inventory is still shrinking in cheaper markets, Trulia says
Townhouses under construction in San Jose.
Townhouses under construction in San Jose.Photographer: David Paul Morris/Bloomberg

The tightest housing markets in the U.S. are unwinding in time for the key spring selling season, giving buyers an edge for the first time in years.

San Jose, at the heart of California’s Silicon Valley, had the biggest gain in inventory in the first quarter, jumping 55 percent from a year earlier, according to a study by Trulia of the 50 largest metropolitan areas. Seattle, Salt Lake City and San Francisco followed. At the same time, the number of listings is shrinking in cheaper markets, led by Washington; Baltimore; Kansas City, Missouri; and Oklahoma City.