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Monday, January 10, 2022

2nd Look at Local Housing Markets in December

by Calculated Risk on 1/10/2022 12:37:00 PM

Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in December

A brief excerpt:

Commenting on the slowdown in sales, Dick Beeson, managing broker at RE/MAX Northwest Realtors, said, "That's to be expected considering inventory in the fourth quarter was down sharply from last year. You can't sell what isn't there."
Here is a summary of active listings for these housing markets in December. Inventory was down 22.7% in December month-over-month (MoM) from November, and down 34.2% year-over-year (YoY).

Inventory almost always declines seasonally in December, so the MoM decline is not a surprise. Last month, these markets were down 30.5% YoY, so the YoY decline in December is larger than in November. This isn’t indicating a slowing market.

Case-Shiller House Prices IndicesNotes for all tables:

1. New additions to table in BOLD.

2. Northwest (Seattle), North Texas (Dallas), Jacksonville, Source: Northeast Florida Association of REALTORS®
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