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Local Housing Markets Report Low Inventory in October

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Local Housing Markets Report Low Inventory in October. Housing inventory is reaching record lows—here’s what to expect in the months ahead. Housing inventory could increase on a year-over-year basis during the winter months, but will still remain at historically low levels, says Bill McBride in the CalculatedRisk Newsletter. .

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Rental Market Recovers Faster Than Predicted

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There’s rebalancing in the for-sale market as well with inventory increasing for the third consecutive month and home value growth slowing in many of the largest markets. Inventory Rebound Continues. For-sale inventory, while still down 27.6% If there had been no pandemic, Zillow predicted rents would be 2.9% higher in Tampa.

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Median Home Listing Price Now $370,000

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That’s even lower than this past February when inventory fell 48.6%. Since Austin is the best market in the country it’s no surprise inventory declined there 72.7% Other metros with strong declines included Jacksonville, Florida down almost 71%, and Raleigh, North Carolina where homes for sale fell 70.3%. from last March.

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Home Prices Plateaued in October as Rising Mortgage Rates Put Pressure on Buyers’ Budgets

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Tight inventory sustained elevated prices, though some formerly red-hot housing markets posted small but steady declines throughout October. Home prices are falling in housing markets that saw record home sales throughout the pandemic as soaring interest rates continue to price out prospective buyers. The typical U.S.

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Single Family Build-For-Rent Homes Reach All-Time High

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increased its inventory by 380 percent, going from having 382 single-family rentals in 2017 to 1,834 rentals in 2022. Jacksonville, Fla., These budding cities include Charlotte, N.C., that had 621% more BFR homes in 2022 (1,333 units) than in 2017 (185 units). Atlanta, Ga., 265%), and Tampa, Fla.

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Tampa Takes the Top Spot as 2022's Hottest Market

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For the second year in a row, the Sun Belt is dominating Zillow’s list of the nation’s hottest housing markets with metros like Tampa, Jacksonville, and Raleigh securing the top spots. Zillow’s list of the top markets in 2022 is here.

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Which Housing Markets Are Seeing the Biggest Inventory Gains?

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Which Housing Markets Are Seeing the Biggest Inventory Gains? year-over-year in Jacksonville, Fla., while inventory rose 177% on an annual basis. Prices were also unchanged year-over-year in Georgia, but inventory was up 80.1% Inventory in these markets were down 8% YoY in March 2022 and are now up 85% YoY!