Housing Inventory continues to climb

The recent trend has continued with year-over-year (YOY) increases in the inventory of Single Family Homes (SFH) in the 34 cities and towns of Essex County for the 6th month in succession and of condos for the 7th month.

SFHs
The first chart shows the first half of the year when inventory was still declining YOY. The second chart shows YOY increases for every month in July to December. Note that inventory levels are pretty well back to 2016 levels, while still well below those of 2014/15:


Housing Inventory

Condos
The first chart shows the first half of the year when inventory was declining YOY until June. The second chart shows YOY increases for every month in July to December. Note that inventory levels are not yet back to 2016 levels, while still well below those of 2014/15:

Housing Inventory
Housing Inventory

Comment
The December numbers continue the trend commented on for the last several months as rising inventory offers more options for home buyers. Read Is a recession coming soon? for my view on the outlook for the economy and housing market.

Andrew Oliver
www.OliverReports.com
Realtor
Sagan Harborside Sotheby’s International Realty
Tel: 617.834.8205

 

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