It's Monday, so that means the latest real estate data from @AltosResearch and man the leading indicators are all aligning for another big year of home price appreciation.
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On the inventory watch, we're down to just 389,000 single family homes on the market. Many new listings are getting offers so quickly they're bypassing our active market data and just going straight to pending-contract.
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What's inventory going to look like throughout the year? Fingers crossed that we get a more seasonal pattern in listings this year, trough in a couple weeks at 370,000 or so, peak in 3Q at only 5670,000 or so. A million would be healthy/normal.
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All this means that home prices and the leading indicators of where transaction prices will take place in Feb/Mar/Apr are spiking. The blue line here will surpass last year's peak in just a few weeks.
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More details and context in this week's 6 minute market data video. Real estate data geeks, don't miss!
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