"Slowing inventory growth is more rooted in how housing economics works, which, if properly told, isn't always an exciting story, just a truthful one."
"Normal inventory, according to the National Association of Realtors, is between 2 and 2.5 million. I think the housing market is perfectly fine as long as we have 1.52-1.93 million total active listings."
"Currently, we are at 1.36 million so we should still get above 1.52 million at some point this year. Now, because inventory is getting back to normal, it's going to take a lot more demand weakness or new listings growth to get inventory growth to really pick up from here."
Housing inventory growth is slowing, surprising many as states like Florida and the Dallas-Fort Worth-Arlington metro show negative year-over-year inventory. The housing market is returning to normal levels after a period of unhealthy inventory. Normal inventory is defined as between 2 and 2.5 million listings, while current active listings are at 1.36 million. A significant increase in demand or new listings is needed for inventory growth to rise. Mortgage rates above 6.50% have also impacted the market dynamics.
Read at www.housingwire.com
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