by Calculated Risk on 5/13/2021 04:04:00 PM

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

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.

The table below shows some early data for April.

Although inventory in these areas is down about 56% year-over-year, inventory is up month-to-month in most areas, and up 3.1% in total compared to March.

It is still early, but existing home inventory might have bottomed in March.

Existing Home Inventory
	Apr-21	Mar-21	Apr-20	YoY	MoM
Atlanta	6,964	7,418	19,697	-64.6%	-6.1%
Boston	3,788	3,201	3,467	9.3%	18.3%
Colorado	7,872	6,732	23,106	-65.9%	16.9%
Denver	2,594	1,921	6,855	-62.2%	35.0%
Houston	22,794	22,602	39,906	-42.9%	0.8%
Las Vegas	2,346	2,369	7,815	-70.0%	-1.0%
Maryland	7,167	6,202	18,563	-61.4%	15.6%
New Hampshire	1,852	1,576	4,295	-56.9%	17.5%
North Texas	8,084	8,123	23,046	-64.9%	-0.5%
Portland	2,222	1,943	4,757	-53.3%	14.4%
Sacramento	1,006	918	1,823	-44.8%	9.6%
South Carolina	12,019	12,754	27,024	-55.5%	-5.8%
Total1	76,114	73,838	173,499	-56.1%	3.1%
1excluding Denver (included in Colorado)