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3rd Look at Local Housing Markets in October

Today, in the Real Estate Newsletter: 3rd Look at Local Housing Markets in October

Excerpt: This is the third look at local markets in October. This update adds Albuquerque, Atlanta, Colorado, Houston, Jacksonville, Minnesota, Portland, Sacramento and Santa Clara.

Here is a summary of active listings for the housing markets that have reported so far in October. For these markets, inventory was down 7.9% in October MoM from September, and down 25.1% YoY.

Of the markets that have reported so far, inventories in Jacksonville and San Diego are at record lows. Sacramento is the only market so far with inventory up YoY in October.

Inventory almost always declines seasonally in October, so the MoM decline is not a surprise. Last month, these markets were down 22.9% YoY, so the YoY decline in October is slightly larger than in September. This is not indicating a slowing market.You can subscribe at https://calculatedrisk.substack.com/ (Currently all content is available for free, but please subscribe).

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