DMAR July 2022 - Inventory is double but it is not enough
Inventory exceeded demand in June for the first time since the same month in 2020. Spiking 94% year-over-year and 66% month-over-month. Price reductions, according to Redfin, increased to 40% of homes on the market in Denver. If the story ended there, it might concern me. Sellers flooding the market giving homes away at discounted prices. But the story is much different than that. June ended the first half of a transitional 2022 and it did so with a bang. Cryptocurrency is down 60%; the stock market had its worst first half of a year since 1970, inflation hit a 41-year high and housing.. well, so far this year, housing is up 16.5%. 2022 year-to-date median price growth is only 1% lower than we experienced during the first half of 2021.
With all this inventory, though, buyers and sellers “feel” like it shifted to a buyers’ market. Get the full story in this episode of The Double Comma Club, "Inventory is double last year, but it is not enough."
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