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As housing demand continues outpacing supply, tight inventory is plaguing potential buyers and putting upward pressure on home prices.

But supply in some housing markets is worse than others. The number of homes for sale fell 14.4%, the greatest year-over-year decline in 28 months, according to real estate agency Redfin.

All the while, home values rose 7.8%, with the median sales price growing to $280,500 last month, which could all point to an even tougher spring buying season than last year's. Mortgage rates are also higher, but limited supply remains the biggest strain on the housing market.

"Many buyers are concerned about interest rates, but the biggest driver of this market is inventory, not rates," Joe Krupsaw, a Redfin agent in Washington, D.C., said in a statement. "None of my clients have said they'll change their plans to buy if rates increase. I think when rates hit 4.5% we'll see some buyers reassess their budgets and what they can afford, but they won't stop looking for a home."

From Worcester, Massachusetts, to Memphis, here's a look at 12 places where housing supply is dwindling.

The data was derived from Redfin's Real-Time Housing Market Tracker, a monthly analysis of home prices, competition, sales volumes and inventory levels across the markets that Redfin serves nationwide.
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Buildings at Virginia Beach, Virginia during a Warm Fall Night

No. 12 Hampton Roads, Virginia

New listings: 1,833 (-9.3%)
Homes sold: 1,333 (6.1%)
Median sales price: $218,500 (9.3%)
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No. 11 Columbus, Ohio

New listings: 1,762 (-10.4%)
Homes sold: 1,598 (-13.8%)
Median sales price: $180,000 (9.9%)
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Providence, Rhode Island. City view in New England region of the United States.

No. 10 Providence, Rhode Island

New listings: 1,314 (-11.1%)
Homes sold: 1,156 (-8.5%)
Median sales price: $245,000 (8.9%)
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Liberty Bell and Independence Hall in Philadelphia

No. 9 Philadelphia, Pennsylvania

New listings: 1,989 (-12.3%)
Homes sold: 1,655 (-3.7%)
Median sales price: $185,000 (12.5%)
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Cyrus Avery Centennial Plaza in Tulsa, Oklahoma.

No. 8 Tulsa, Oklahoma

New listings: 1,076 (-12.7%)
Homes sold: 681 (-3.3%)
Median sales price: $155,000 (4.6%)
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No. 7 Cincinnati, Ohio

New listings: 1,689 (-13.5%)
Homes sold: 1,266 (-13.6%)
Median sales price: $156,400 (4.2%)
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Boston, Massachusetts - July 13, 2013: The historic 1713 Old State House at the corner of State and Washington Streets is a landmark site on the Freedom Trail

No. 6 Boston, Massachusetts

New listings: 2,827 (-14%)
Homes sold: 2896 (-8.5%)
Median sales price: $450,000 (6.9%)
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Memphis, Tennessee, USA downtown skyline.

No. 5 Memphis, Tennessee

New listings: 957 (-15.3%)
Homes sold: 758 (-10.4%)
Median sales price: $162,000 (24.6%)
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No. 4 Montgomery County, Pennsylvania

New listings: 1,712 (-16.7%)
Homes sold: 1,447 (-8.8%)
Median sales price: $285,000 (7.5%)
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Skyline of Omaha, Nebraska as seen from the water feature of Gene Leahy Mall

No. 3 Omaha, Nebraska

New listings: 743 (-16.7%)
Homes sold: 717 (-11.6%)
Median sales price: $187,500 (10.3%)
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No. 2 Rochester, New York

New listings: 687 (-16.8%)
Homes sold: 697 (-6.1%)
Median sales price: $127,500 (6.7%)
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Worcester, Massachusetts, USA Skyline.

No. 1 Worcester, Massachusetts

New listings: 594 (-16.8%)
Homes sold: 652 (6.4%)
Median sales price: $250,000 (9.6%)
This article originally appeared in National Mortgage News.
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