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Housing Market Tracker: Inventory is negative YOY

Housing Wire

Mortgage rates rose last week after the better-than-anticipated jobless claims data but even with higher rates, we also had a third week of positive purchase application data. The other big story with housing inventory is that new listing data has been trending negative year over year since the end of June 2022.

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Housing inventory crisis continues in 2022

Housing Wire

Early in 2021, when I was talking about how people should worry about home prices overheating, I had a glimmer of hope that maybe toward the end of 2021 we would be spared another seasonal collapse of inventory. Mortgage demand needs to slow down. Houston, we have a problem. Demand is growing and stable, excluding the COVID-19 pause.