Calculated Risk: Existing Home Inventory in June: Local Markets
by Calculated Risk on 7/21/2021 03:50:00 PM
I’m gathering existing home data for many local markets, and I’m watching inventory very closely this year.
Note: California reported a 15.4% increase in active inventory from May to June, but they don’t report the actual numbers – so California isn’t include in the table below. But this is similar increase to most other areas.
As I noted in Some thoughts on Housing Inventory
The key for housing in 2021 will be inventory. If inventory stays extremely low, there will be more housing starts and a larger increase in house prices. However, if inventory increases significantly, there will be fewer starts and less price appreciation.
Although inventory in these areas is down about 43% year-over-year, inventory is up 12.6% month-to-month. Seasonally we’d usually expect an increase in inventory from May to June – so some of this increase is seasonal (as opposed to a shift in the market).
|Existing Home Inventory|
|1excluding Denver (included in Colorado)|