Zillow: Inventory Shrinking, California Metros Depleting Fastest

Sellers may begin to have the upper hand in the market as housing inventory shrinks, leaving first-time homebuyers left to compete with investors, a report from Zillow revealed.

“First-time homebuyers are being squeezed out of the market by falling inventory and the rapid influx of investors looking to buy basic homes to rent out to the growing population of people who have recently been foreclosed upon,” said Stan Humphries, Zillow chief economist, in a release Thursday.

For complete article:  http://www.dsnews.com/articles/zillow-inventory-shrinking-california-metros-declines-most-2012-10-11