More homes for sale, but low-priced listings remain scarce

By ALEX VEIGA
AP Business Writer

LOS ANGELES (AP) — The number of homes on the market has been rising, albeit from very low levels. Home listings rose on an annual basis in May and June, snapping a streak of annual declines going back three years. But many would-be buyers looking for a more modestly priced home are likely to find little relief in the recent surge in listings. So far, the increase in homes for sale nationally has been concentrated in the higher-end of the price spectrum, $250,000 and higher, while listings priced below that are becoming more scarce.