A brief excerpt:
Here is a summary of active listings for these housing markets in March. Note: Inventory usually increases seasonally in March, so the month-over-month (MoM) increase is not surprising.
Inventory was up 9.3% in March MoM from February, and down 13.4% year-over-year (YoY). Inventory in about half of these markets was up YoY.
It appears inventory bottomed in February. Last month, these markets were down 23.3% YoY, so this is a significant change from February. This is the first step towards a more balanced market, but inventory levels are still very low.
Notes for all tables:
1) New additions to table in BOLD.
2) Northwest (Seattle) and Santa Clara (San Jose), Jacksonville, Source: Northeast Florida Association of REALTORS®
3) Totals do not include Atlanta or Denver (included in state totals).
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