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Housing Market Tracker: Inventory is negative YOY

Housing Wire

Housing inventory finally broke under 2022 levels last week. Since May 15, that trend has continued to the point that inventory in America is now negative year over year. We have often discussed that the housing market dynamics changed starting Nov. However, I need to put some context into what happened in 2022.

Inventory 454
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Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

Inventory 445
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HousingWire debuts Housing Market Tracker

Housing Wire

Starting this week, I will analyze weekly data in a Housing Market Tracker article every Monday to provide a status update on the U.S. housing market and economy. This weekly tracker will give you updates on the data lines that don’t need to wait for monthly housing data reports. .