by Calculated Risk on 4/19/2022 12:23:00 PM
Today, in the Calculated Risk Real Estate Newsletter: March Existing Home Sales Forecast and 4th Look at Local Housing Markets
A brief excerpt:
California Home Sales, Prices and Inventory in March
California doesn’t report monthly sales or inventory, but here is the press release from the California Association of Realtors(R) (C.A.R.): California home sales tick higher in March as statewide median price sets another all-time high, C.A.R. reports
Active Inventory in March
Here is a summary of active listings for these housing markets in March. Note: Inventory usually increases seasonally in March, so the month-over-month (MoM) increase is not surprising.
Inventory was up 9.5% in March MoM from February, and down 15.1% YoY. Inventory in about a third of these markets was already up YoY.
It appears inventory bottomed in February. Last month, these markets were down 23.7% YoY, so this is a significant change from February. This is the first step towards a more balanced market, but inventory levels are still very low.
1) New additions to table in BOLD.
2) Northwest (Seattle), North Texas (Dallas) and Santa Clara (San Jose), Jacksonville, Source: Northeast Florida Association of REALTORS(R)
3) Totals do not include Atlanta or Denver (included in state totals).
There is much more in the article.