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3rd Look at Local Housing Markets in March

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by Calculated Risk on 4/14/2022 02:21:00 PM

Today, in the Calculated Risk Real Estate Newsletter: 3rd Look at Local Housing Markets in March

A brief excerpt:

Adding Austin, Charlotte, Houston, Maryland, North Texas, Pennsylvania, South Carolina, and Washington, D.C.

The next milestone will be when inventory is up year-over-year (YoY). My current guess is inventory will be YoY near mid-year or in Q3.

Inventory was up 9.8% in March MoM from February, and down 15.8% YoY. Inventory in about 40% of these markets was already up YoY.

It appears inventory bottomed in February. Last month, these markets were down 25.2% 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.

Notes for all tables:

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. You can subscribe at Calculated Risk Real Estate Newsletter

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