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4th Look at Local Housing Markets in October

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by Calculated Risk on 11/15/2021 01:26:00 PM

Today, in the Real Estate Newsletter: 4th Look at Local Housing Markets in October

Excerpt:

This is the fourth look at local markets in October. This update adds Des Moines, Maryland, South Carolina, and Washington, D.C..

Here is a summary of active listings for the housing markets that have reported so far in October. For these markets, inventory was down 6.9% in October MoM from September, and down 25.2% YoY.

Of the markets that have reported so far, inventories in Jacksonville and San Diego are at record lows. Sacramento and Washington, D.C. are the only markets so far with inventory up YoY in October.

nventory almost always declines seasonally in October, so the MoM decline is not a surprise. Last month, these markets were down 23.1% YoY, so the YoY decline in October is slightly larger than in September. This is not indicating a slowing market.

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