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Housing inventory falls under 1M again as sales collapse

Housing Wire

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. During that period, we saw new listing data decline.

Inventory 541
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U.S. Housing Market Collapse? Nowhere in Sight

Empire Appraisal Group

The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist” (Fortune). The market is adjusting to a new reality, with much lower sales volumes and far more inventory,” says Ian Shepherdson, chief economist at Pantheon Macro. Or to prompt homebuyers to delay buying.

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The nation’s housing market is on a correction course

Housing Wire

Housing demand weakened noticeably as growing concerns about affordability contributed to non-seasonal declines in sales, resulting in a slight increase in inventory and more moderate price appreciation,” states the Federal Reserve’s most recently released Beige Book report — based on data and reports current as of mid-July.

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Massachusetts 2023 Year in Review

Lamacchia Realty

2023 was a notable year in real estate history, but if we had to put our finger on what stood out, it was how the number of homes listed was the lowest in over two decades. It kept inventory down, which propped up prices, but sales are down nearly 22%, and buyers are hungry. A lot of it had to do with anemic inventory.

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2023 Maine Year in Review

Lamacchia Realty

If we were to pinpoint the standout factor, it would be the remarkably low number of homes listed, the lowest in over two decades. This scarcity in inventory had the effect of keeping prices high, but there was a substantial decrease in sales, approximately 19%, leaving prospective buyers eager. Maine Sales Decreased by 18.9%

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New Hampshire 2023 Year in Review

Lamacchia Realty

The real estate landscape witnessed significant developments in 2023, as the New Hampshire market saw a historic low in listings. This scarcity in inventory exerted upward pressure on prices, although it coincided with a 19% decline in sales. Lowest number homes listed in recorded history, decreased by 15.1%

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

The 323,465 flipped single-family, condo and townhomes in 2021 is the highest number since 2006 and represented 5.5% That includes 621 fewer Pending contracts in April 2022 than the previous April, as the net number of new listings remains on average lower than in years past. List price: $3.495M ($782/sq.