Final Look at Local Housing Markets in June: Upswing in Supply, Slump in Sales, Rise in New Offerings

on Estimated risk per 21.07.2022 12:23:00

Today in the Calculated Risk Real Estate newsletter: Final look at local housing markets in June

An excerpt from the letter:

And here is the table of new announcements for June. In these areas, new listings were up 4.4% year on year.

Last month, new listings in these markets were up 5.9% year-on-year. The number of new offerings has increased over the past two months – the number of new offerings was down year-on-year back in April – but overall we are not seeing a significant increase in new offerings in these markets.

active inventoryHowever, several markets are seeing a surge in new offerings. – Examples are Austin, Las Vegas, Phoenix and Mid Florida (Tampa, Orlando). The combination of less demand and more new listings does increase inventory in these areas.

These are all former “hot” markets, and perhaps some people are just trying to capitalize on these markets after the huge rise in prices. Or it could be a leading indicator of new announcements in other areas. This is something worth seeing.

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