50 US Metro Housing Areas See Double-Digit-% YoY Inventory Increase

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via confoundedinterest:

Since 2007, the inventory of existing homes sales has generally declined while median prices have skyrocketed.

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And home price growth has been exceeding wage (earnings) growth by around 2x-3x.

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But suddenly, 50 metro areas have seen a surge of 13% YoY or greater. Red-hot housing markets Santa Rosa CA, Denver CO, Vallejo CA and San Jose CA have all seen 69% YoY or more growth in active listings. The fifth largest growth in active listings is … Columbus Ohio?

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Maybe it was LeBron James fleeing Ohio for Los Angeles and the Lakers (a puzzling name since they are hardly any lakes in LA).

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So, at last, supply is surging. Will demand meet the new supply? If not, we could see home prices declining.

Check out the data Realtors here.

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