The housing market is experiencing a shift in inventory levels and price trends. Asking prices have increased by 1% compared to last year, while inventory levels have risen by 20% since the beginning of the year. Limited inventory and fewer options for home buyers have led to a decrease in price reductions.
What is causing the increase in inventory levels?
The increase in inventory levels is due to a slow but abnormal rise in the number of homes for sale since April.
Why are price reductions decreasing despite lower inventory levels?
Limited inventory and fewer options for home buyers have led to a decrease in price reductions, but the share of price reductions is rising.
How do current inventory levels compare to pre-pandemic levels?
Compared to pre-pandemic levels in 2019, there are around 37% fewer houses for sale.
What percentage of listed houses have had price reductions?
Currently, around 40% of listed houses have had price reductions.
Why are houses selling faster in the past five weeks?
Houses are selling faster in the past five weeks due to low new listings causing inventory to remain at historically low levels.
The housing market is experiencing a shift in inventory levels and price trends. Asking prices have increased by 1% compared to last year, while inventory levels have risen by 20% since the beginning of the year. Limited inventory and fewer options for home buyers have led to a decrease in price reductions.
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