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1st Look at Local Housing Markets in March: A Sea Change in Active Inventory

by Calculated Risk on 4/07/2022 02:20:00 PM

Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in March

A brief excerpt:

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 31.5% in March MoM from February, and down 1.0% year-over-year (YoY). The YoY decline in inventory in these markets was due entirely to San Diego (a very tight market). The other markets were up YoY.

This is early, and just a few markets, but it appears inventory has bottomed. Last month, these markets were down 26.1% 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)

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