Today, in the Real Estate Newsletter: 2nd Look at Local Housing Markets in October
Excerpt: Here is a summary of active listings for the housing markets that have reported so far in October. For these markets, inventory was down 9.6% in October MoM from September, and down 30.4% YoY.
Inventory in San Diego is at an all time low!
Inventory almost always declines seasonally in October, so the MoM decline is not a surprise. Last month, these eight markets were down 27.4% YoY, so the YoY decline in October is larger than in September. This is not indicating a slowing market (but this is just 8 early reporting markets).You can subscribe at https://calculatedrisk.substack.com/ (Currently all content is available for free, but please subscribe).