June 2019 housing data

Submitted by Rich Toscano on July 8, 2019 - 5:50pm
There was a bit of in increase in months of inventory in June, but it seems pretty par for the course for this time of year:

If rates stay nice and low, I expect that the trajectory of the 2019 line will end up looking more like 2016-17 than 2018. (And if they don't... well then it's probably the 2018 route).

Here's a look at price changes vs. inverted month of inventory, still tracking quite well on the assumption that 2.5 months is the "new normal" equilibrium level of inventory.

Price-wise, we are right back at peak levels, in nominal terms.

In valuation terms we are still below last year's peak, but I will soon have more on that. In the meantime, more graphs below!

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