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.
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).