Existing Home Inventory in June: Local Markets

I'm gathering existing home data for many local markets, and I'm watching inventory very closely this year.




The table below shows some local market data for June.

Note: California reported a 15.4% increase in active inventory from May to June, but they don't report the actual numbers - so California isn't include in the table below.  But this is similar increase to most other areas.

As I noted in Some thoughts on Housing Inventory
The key for housing in 2021 will be inventory. If inventory stays extremely low, there will be more housing starts and a larger increase in house prices. However, if inventory increases significantly, there will be fewer starts and less price appreciation.
Although inventory in these areas is down about 43% year-over-year, inventory is up 12.6% month-to-month.  Seasonally we'd usually expect an increase in inventory from May to June - so some of this increase is seasonal (as opposed to a shift in the market).   


It does appear inventory bottomed seasonally in March.



Existing Home Inventory

 
Jun-21
May-21
Jun-20
YoY
MoM

Alabama
9,954
9,363
16,518
-39.7%
6.3%

Atlanta
7,787
7,530
17,596
-55.7%
3.4%

Boston
3,822
3,418
4,697
-18.6%
11.8%

Charlotte
3,462
3,104
7,182
-51.8%
11.5%

Colorado
9,191
7,034
22,230
-58.7%
30.7%

Denver1

3,122
2,075
6,383
-51.1%
50.5%

Houston
24,225
22,607
35,281
-31.3%
7.2%

Indiana
7,743
6,559
12,139
-36.2%
18.1%

Las Vegas
3,029
2,560
6,695
-54.8%
18.3%

Maryland
8,550
7,490
15,558
-45.0%
14.2%

Minnesota
10,227
8,953
17,285
-40.8%
14.2%

New
Hampshire
2,505
1,959
3,613
-30.7%
27.9%

North
Texas
9,747
8,126
19,406
-49.8%
19.9%

Northwest
6,358
5,533
9,670
-34.3%
14.9%

Phoenix
5,866
5,218
8,792
-33.3%
12.4%

Portland
2,722
2,339
4,109
-33.8%
16.4%

Rhode
Island
1,985
1,143
2,966
-33.1%
73.7%

Sacramento
1,297
1267
1,495
-13.2%
2.4%

South
Carolina
11,578
11,278
22,676
-48.9%
2.7%

Total1

130,048
115,481
227,908
-42.9%
12.6%

1excluding Denver (included in Colorado)



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