Tag Archives: Inventory

The most pressing problem facing the housing industry today is the tight inventory and millennials may be partly to blame. As many young potential buyers move into cities and away from the suburbs, housing construction has been notoriously weak. Cities like New York, San Francisco, Boston, and Los Angeles have seen their suburban areas shrink.

The falling inventory has many industry professionals worried, especially as demand picks up. Data from Redfin shows that homes in April sold the fastest since 2010, and sold 10 days faster than a year previously. Many homes, one in four, sold above their list price.

Inventory has dropped yet again, declining 14 percent over last year and 25 percent since 2015. Seattle was hit the worst as far as inventory, coming in with a 1.75, the lowest Months Remaining Inventory index of all metros measured. An MRI between six and 10 indicates a balanced market.

New data shows inventory is down 5 percent over the year, with the biggest decreases in Minneapolis, Columbus, and Seattle. Home values are up 6.8 percent year-over-year, hitting $196,500 for the month of March. Values appreciated most in Tampa, Dallas, and Seattle.

The twin realities of the current U.S. housing market‒‒rising home prices and shrinking inventories in nearly every metro‒‒are increasingly putting homes out of reach for middle-income workers within their cities. The typical American worker makes just over $37,000 annually, while the typical American house costs just under $255,000.

The strong housing recovery may be partly to blame for the large drop in inventory experienced in some markets during the past five years. On average, the more increased the housing values in a particular area above pre-recession levels, the greater the decrease in present housing inventory. The significant drop in starter and trade-up home inventory is pushing affordability further out of reach of some homebuyers.

According to a recent report from Ten-X, how does the state of housing weigh in against slow wage growth and a shortage of home inventory?

The top and bottom core-based statistical areas (CBSAs) are out for September. Not all trends experienced in the CBSAs are reflective of what's occurring in the markets on a more localized scale, though.

Some of the hottest housing markets may be slowing down, while those that have been slow to rebound are finally heating up.

CoreLogic published its monthly National Foreclosure Report with data from June 2014, which indicates that foreclosure inventory is down 35 percent from June last year. Foreclosures fell from 54,000 to 49,000 on a year-over-year basis. The report further indicated that foreclosure ...