Can't Sell? Blame the Glut (Front‪)‬

This market snapshot is based on Real Estate Information Network data for South Hampton Roads, the Peninsula, and some listings from surrounding areas including northeastern North Carolina. Typically, a regional supply of houses would take four to six months to sell . During boom years, the region's housing inventory was put at less than a month's worth. The figures in this comparison are based on the number of unsold listed homes in June of each year. In the past two years, the number of homes for sale has skyrocketed while prices have fallen. Nearly four times as many homes are on the market in the region now as in 2005. A tight credit market further hurts sales. = 500 homes By Josh Brown The Virginian-Pilot