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Local Housing Markets Report Low Inventory in October

Pro Builder

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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An Influx of Buyers Nearly Dries Out Palm Beach's High-End Inventory

Pro Builder

An Influx of Buyers Nearly Dries Out Palm Beach's High-End Inventory. Compared to last year, there are 79% fewer homes for sale, bringing Palm Beach’s housing inventory down to a five or less month supply. Southern Florida is experiencing a booming market in general right now, Miami’s home prices jumped 42% in the quarter as a result.

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Rental Market Recovers Faster Than Predicted

Pro Builder

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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Luxury Home Sales Are Plummeting in These Pricey Metros

Pro Builder

31, 2023, compared with the same period one year ago, led by substantial drops in Miami and Long Island, N.Y. At the start of the COVID-19 pandemic, Miami welcomed an influx of wealthy buyers migrating from the Northeast, but at the start of 2023, luxury sales in Florida’s popular oceanfront metro dropped by nearly 69%.

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What Was September Like in Denver, Las Vegas, and San Diego?

Pro Builder

Inventory in San Diego is at an all time low, whereas inventory in Denver is up 107% (about double) from the all time low in March of this year. Las Vegas inventory is up 74% from the record low in April. Months of inventory increased to 0.76 Las Vegas inventory is up 74% from the record low in April. Read More.

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Home Prices Rise at the Fastest Rate on Record

Pro Builder

After nearly two years of relentless gains, home-price growth gradually decelerated in the fall of 2021, but constrained inventory and uninhibited demand led to sharp price increases at the start of 2022.

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In Pursuit of Affordability, Homebuyers Are Heading to Cities With the Biggest Climate Risks

Pro Builder

Cities such as Phoenix, Las Vegas, and Miami are attracting the most interest, but according to Insider , they’re also home to some of the biggest climate risks in the country, from droughts and heat waves to flooding and hurricanes. Read more Housing Markets Environmental Affordability Housing Markets

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