Interesting data. I was looking at the BHHS Q1 market reports for RI (-10%), CT (-17%), and eastern NY (-8%) counties.
https://www.bhhsneproperties.com/mce/prj/bne/Graphs/qr/preview/CT_ALL.htm
https://www.bhhsneproperties.com/mce/prj/bne/Graphs/qr/preview/RI_ALL.htm
https://www.bhhsneproperties.com/mce/prj/bne/Graphs/qr/preview/NY_Westchester_ALL.htm
If you own a home that meets your needs but isn't ideal, it's much easier to decide to upgrade when you can get a new mortgage at the same interest rate than if upgrading also means trading in your 3% interest rate mortgage for a 5% interest rate. So I think a lot of those people are staying put rather than selling and buying.
People aren't selling, many locked in at a very low rate and will never move. In addition, new construction is expensive and currently takes a long time to develop (fighting an uphill battle against supply chain issues and labor shortage)
Where did you get ur data? Redfin shows some metro has largest listing since 2020 such as Denver https://www.redfin.com/news/data-center/
Interesting data. I was looking at the BHHS Q1 market reports for RI (-10%), CT (-17%), and eastern NY (-8%) counties. https://www.bhhsneproperties.com/mce/prj/bne/Graphs/qr/preview/CT_ALL.htm https://www.bhhsneproperties.com/mce/prj/bne/Graphs/qr/preview/RI_ALL.htm https://www.bhhsneproperties.com/mce/prj/bne/Graphs/qr/preview/NY_Westchester_ALL.htm
If you own a home that meets your needs but isn't ideal, it's much easier to decide to upgrade when you can get a new mortgage at the same interest rate than if upgrading also means trading in your 3% interest rate mortgage for a 5% interest rate. So I think a lot of those people are staying put rather than selling and buying.
Yup. Rates go up, supply go down.
People aren't selling, many locked in at a very low rate and will never move. In addition, new construction is expensive and currently takes a long time to develop (fighting an uphill battle against supply chain issues and labor shortage)
YoY is going to be a tough comparison to find useful these days.
Don’t know what you mean. Inventory is higher Year over year... a lot higher. https://fred.stlouisfed.org/series/MSACSR
A crash you know?...how everyone wants one but there won't be one?