Breaking Stories

Preliminary Existing Home Inventory June: Local Markets

by Calculated Risk on 7/14/2021 04:45:00 PM

I’m gathering existing home data for many local markets, and I’m watching inventory very closely this year.

The table below shows some preliminary data for June (more to come).

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 44% year-over-year, inventory is up 13% month-to-month. Seasonally we’d usually expect an increase in inventory from May to June – so this increase is probably seasonal (as opposed to a shift in the market).

It does appear inventory bottomed seasonally in March.

Existing Home Inventory
Jun-21 May-21 Jun-20 YoY MoM
Atlanta 7,787 7,530 17,596 -55.7% 3.4%
Boston 3,822 3,418 4,697 -18.6% 11.8%
Colorado 9,191 7,034 22,230 -58.7% 30.7%
Denver 3,122 2,075 6,383 -51.1% 50.5%
Houston 24,225 22,607 35,281 -31.3% 7.2%
Las Vegas 3,029 2,560 6,695 -54.8% 18.3%
Maryland 8,550 7,490 15,558 -45.0% 14.2%
Minnesota 10,227 8,953 17,285 -40.8% 14.2%
New Hampshire 2,505 1,959 3,613 -30.7% 27.9%
North Texas 9,747 8,126 19,406 -49.8% 19.9%
Northwest 6,358 5,533 9,670 -34.3% 14.9%
Portland 2,722 2,339 4,109 -33.8% 16.4%
Rhode Island 1,985 1,143 2,966 -33.1% 73.7%
South Carolina 11,578 11,278 22,676 -48.9% 2.7%
Total1 101,726 89,970 181,782 -44.0% 13.1%
1excluding Denver (included in Colorado)

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *