Reply to Remember all the dorks spamming last year real estate was going to crash?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not here but elsewhere - looking interesting. And not crashing but above 2019 inventory is certainly normalizing.
[twitter]https://x.com/newslambert/status/1777062981471248647?s=46&t=kf1qYlCXQnKgUhJWEIu2vg[/twitter][/quote]

Translate it. What is it actually saying? I'm looking at the percentages but not clear what it means. Inventory changes on a year to year basis or relative to five years ago?

I'm in the Baltimore area and looking vaguely at moving to a bigger house but in my target areas prices are just going up and inventory is still limited. Everything sells in days, maybe a week, unless there's something very wrong with the property.[/quote]

+1 
I don't understand what these numbers and percents means either.[/quote]

The percentages show how much the inventory for sale in a given market has changed over a period of time.

The far right column "1Yr" shows the increase/decrease in inventory for-sale in a market. So for San Antonio, the inventory for-sale has increased 36.8% compared to 1 year ago. Compared to 3 years ago, inventory for-sale is up 223%.

Importantly, compared to 5 years ago - i.e., March 2019 and thus prior to COVID - inventory is up in the San Antonio area by 17.3%.

A few take away from the graphic:

-Vast majority of areas of U.S. have less inventory available for-sale today than prior to COVID. Makes sense though - more potential buyers in the market today with entrance of younger Millennials and older Gen Z and housing production still hasn't kept up with population growth.

-The national median house price peaked in January 2023 ([url=https://fred.stlouisfed.org/series/MSPUS]source[/url]). The areas with the biggest price declines since that date are the metro areas at the top of the graphic. Again, this makes sense - supply is getting back to pre-COVID norms. The areas with the biggest price increases since January 2023 are the areas listed at the bottom of that graphic - places in CT, RI, southern VA, Boston, even the Baltimore metro. Again, this should make intuitive sense - supply is very constrained in those areas compared with pre-COVID times. Therefore, prices are still rising. [/quote]

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