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Eight states now have more unsold inventory than in 2019. Here’s why.

Housing Wire

Unsold inventory of homes on the market has been climbing in the U.S. In general, inventory rises with rates because more expensive money slows demand. When demand slows, inventory grows. But still, there are about 300,000 fewer homes on the market now than in August of 2019. That is, eight states are back to “normal.”

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Housing inventory has never been lower

Housing Wire

It’s official – housing inventory in America is at a crisis level. During the four week period ending November 28, the number of active listings was a 23% decrease compared to the same time period in 2020 and a 42% drop compared to 2019. This marks a 14% year-over-year increase and a 31% increase from 2019.

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Housing inventory up nearly 55% in December

Housing Wire

The housing inventory shortage dominated much of the conversation surrounding the housing market in 2022, but thanks to softening homebuyer demand, the number of active listings finished the year up 54.7% Despite this sizable yearly increase, active housing inventory was down 33.4% compared to December 2019 and 38.2%

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Housing inventory is up, but so are unsold listings. Are renters to blame?

Housing Wire

Rising housing inventory levels in 2024 may not be the positive sign of market health that they appear to be. High inventory levels contribute to another problem as active listings are remaining unsold for longer periods. Redfin refers to these listings as “stale inventory.” ” According to the report, 54.5%

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Is housing inventory growth really slowing down?

Housing Wire

One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. One thing that I have stressed is that higher mortgage rates can create a slowdown in demand and thus allow more inventory to accumulate through a weakness in demand. million to 1.93

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How housing credit is shaping housing inventory

Housing Wire

Housing credit channels directly impact housing inventory channels. Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. This matters because inventory was already heading toward all-time lows before COVID-19.

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Housing inventory crisis continues in 2022

Housing Wire

Early in 2021, when I was talking about how people should worry about home prices overheating, I had a glimmer of hope that maybe toward the end of 2021 we would be spared another seasonal collapse of inventory. Inventory always falls in the fall and winter, but I hoped it wouldn’t be a repeat of 2020.

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