THE BIG FINISH
WRAP YOUR HEAD AROUND THE MARKET'S LEADING INDICATORS
96
AN INVENTORY REBOUND ON THE HORIZON?
According to Trulia's Price and Inventory Report, housing-inventory levels continued to decline on a national level in Q3 2018, but the
rate of decline hit its slowest pace in several years. Moreover, inventory levels actually began to increase in several larger markets. Could
we be nearing a turning point in the ongoing inventory crisis that has defined 2018?
Whether the localized upswing in inventory proves to be part of a larger nationwide trend remains to be seen, but for now,
homebuyers in some of the country's most expensive markets are finding more options. California has seen upticks in numerous prime
markets, boasting five of the top 10 markets seeing the largest year-over-year inventory increases during the quarter. The chart below
provides details on these top 10 markets, tracking the Q3 YOY inventory change and each market's rank in terms of median home price.
SAN JOSE
CALIFORNIA
SALT LAKE CITY
UTAH
SEATTLE
WASHINGTON
SAN DIEGO
CALIFORNIA
VENTURA COUNTY
CALIFORNIA
OAKLAND
CALIFORNIA
COLORADO SPRINGS
COLORADO
BAKERSFIELD
CALIFORNIA
NASHVILLE
TENNESSEE
ORANGE COUNTY
CALIFORNIA
66.9%
45.0%
44.3%
37.7%
31.6%
25.90
21.9%
21.4%
21.1%
20.7% 3
32
58
30
4
6
7
10
22
2
Source: Trulia Q3 2018 Price and Inventory Report
YoY Change in Inventory (Q3 2017– Q3 2018) Rank in Terms of Median Home Price (Q3 2018)
