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Big drop in available inventory post Thanksgiving holiday. Down to just 350,000 existing single family homes on the market.
Man, 2022 sure is shaping up to be competitive again for buyers. No relief anywhere in sight.
This week's @AltosResearch video has the details🧵📽️👇
1/7
Man, 2022 sure is shaping up to be competitive again for buyers. No relief anywhere in sight.
This week's @AltosResearch video has the details🧵📽️👇
1/7
Buyers still gobbling up available homes as quickly as they can. 17,000 immediate sales last week.
The far right end bar in this chart shows our holiday. This week will bounce back a bit, but volumes mostly lower though New Years.
2/7
The far right end bar in this chart shows our holiday. This week will bounce back a bit, but volumes mostly lower though New Years.
2/7
Price reductions are lower than normal because demand is not abating. Still only 27% of homes have had price reductions.
Tight supply / high demand dynamic appears to be with us until something major in the economy changes.
3/7
Tight supply / high demand dynamic appears to be with us until something major in the economy changes.
3/7
Surprise! Inventory of homes for sale is actually falling faster than expected for this time of year.
Down to just over 400,000 single family homes on the market. Inventory fell by 3% this week.
This week's thread and video with the #altosresearch real estate data
🧵👇
1/6
Down to just over 400,000 single family homes on the market. Inventory fell by 3% this week.
This week's thread and video with the #altosresearch real estate data
🧵👇
1/6
Demand is staying elevated even as supply shrinks for the holidays. One place to see that is in our Immediate Sales tracker. Still 25% of the new listings of homes for sale are going into contract essentially immediately each week, even as total volume ticks down.
2/6
2/6
Another place to see demand strong relative to supply is in the Altos Research Market Action Index. See how the readings have actually been ticking up this fall, when normally they'd be flat to down.
3/6
3/6
Available inventory of unsold single family homes jumped another 2.2% this week. What the heck is going on? Time to panic? Time to celebrate?
Check out this week's #altosresearch thread and video for the details. Video link below
🧵👇
1/6
Check out this week's #altosresearch thread and video for the details. Video link below
🧵👇
1/6
Just a few weeks ago I expected inventory to top out at 400,000. We're well past that now and not slowing down. Lots of new sellers hitting the market.
Will we peak at 460,000 in September? 500k in October? Will we end the year with more inventory than we started?
2/6
Will we peak at 460,000 in September? 500k in October? Will we end the year with more inventory than we started?
2/6
On the demand side, we can see that buyers are still aggressive even as inventory builds. Our immediate sales tracker hasn't backed off at all.
23% of the 105,000 new listings went into contract within hours or just days of hitting the market.
3/6
23% of the 105,000 new listings went into contract within hours or just days of hitting the market.
3/6
Another big pop in available inventory this week.
Are these the distressed sellers everyone's been anticipating for over a year?
Here's this week's #altosresearch look at the US real estate market. Thread and video:
🧵👇
1/7
Are these the distressed sellers everyone's been anticipating for over a year?
Here's this week's #altosresearch look at the US real estate market. Thread and video:
🧵👇
1/7
Inventory rose to 402,000 unsold single family homes. That's a 3.2% climb on top of last week's 4%.
Just last week I said we'd peak below 400k in August. Oops.
But - is it a surge of sellers or cooling buyers?
2/7
Just last week I said we'd peak below 400k in August. Oops.
But - is it a surge of sellers or cooling buyers?
2/7
Our Immediate Sales tracker has the insight. Of the 104,000 new listings this week. 21,000 of them sold immediately. That's the fewest in months, meaning more stayed unsold. Still crazy high, just slightly less crazy.
But, it's not a surge of distressed sellers.
3/7
But, it's not a surge of distressed sellers.
3/7
