Inventory levels keep falling and it doesn’t appear as if that is going to change anytime soon, according to Altos Research latest data…(Altos Research)
- Just 272,000 single family homes for the entire country.
- Available inventory declined by 1.9% for the week and has fallen so far that Altos had to adjust the y axis on the real estate inventory chart to allow for the lowest level ever.
NOTE: Mike Simonsen mentioned in there weekly video that because inventory hasn’t slowed its weekly decline yet, “it really looks like we are aiming for April, again, before we start to see a little inventory increase for the year.”
Helping to highlight the inventory issue, the price of the newly listed properties is up 1.3% over last week.
- Simonsen wrote, “Remember that the price of the new listings reflects everything the sellers and the listing agents know about demand in their local markets.”