1st Look at Local Housing Markets in April; Realtor.com shows active inventory down only 3% year-over-year

Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in April

A brief excerpt: Here is a summary of active listings for these housing markets in April. Note: Inventory usually increases seasonally in April, so some month-over-month (MoM) increase is not surprising.

Inventory was up 31.7% in April MoM from March, and up 9.7% year-over-year (YoY). The YoY increase in inventory in these markets was impacted by San Diego (a very tight market). The other markets were up YoY.

These markets were down 26% YoY in February, and unchanged YoY in March, so this is a significant change from February and March. This is another 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)There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/