A brief excerpt:
Adding Austin, Charlotte, Houston, Maryland, North Texas, Pennsylvania, South Carolina, and Washington, D.C.
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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.
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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®
3) Totals do not include Atlanta or Denver (included in state totals).
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