THE BIG FINISH
WRAP YOUR HEAD AROUND THE MARKET'S LEADING INDICATORS
96
INVENTORY INSIGHTS
One ongoing challenge homebuyers face is the problem of insufficient housing inventory. To make matters worse, data from realtor.
com indicates that housing inventory growth is decelerating. This could mean that homebuyers are likely to face even more competition
in the months to come.
While national housing inventory increased by 4% year-over-year (amounting to approximately 56,000 additional listings), inventory
within the 50 largest U.S. metros grew by 9% within the same period. The large metros that experienced the largest inventory
gains were San Jose, California (114%); Seattle (77%); and San Francisco (44%). Metros bucking the trend included St. Louis (19%);
Washington, D.C. (14%); and Oklahoma City (11%). Here's a look at how inventory is faring in the country's largest metro areas.
RANK METRO
ACTIVE LISTING COUNT
INCREASE (YOY)
MEDIAN DAYS ON
MARKET
1
SAN JOSE-SUNNYVALE-SANTA CLARA, CALIFORNIA
114% 11
2
SEATTLE-TACOMA-BELLEVUE, WASHINGTON
77% 9
3
SAN FRANCISCO-OAKLAND-HAYWARD, CALIFORNIA
44% 7
4
PORTLAND-VANCOUVER-HILLSBORO, OREGON-WASHINGTON
34% 7
5
NASHVILLE-DAVIDSON–MURFREESBORO–FRANKLIN, TENNESSEE
28% 6
6
SAN DIEGO-CARLSBAD, CALIFORNIA
27% 6
7
DALLAS-FORT WORTH-ARLINGTON, TEXAS
25% 5
8
LOS ANGELES-LONG BEACH-ANAHEIM, CALIFORNIA
24% 10
9
BOSTON-CAMBRIDGE-NEWTON, MASSACHUSETTS-NEW HAMPSHIRE
23% 4
10
DETROIT-WARREN-DEARBORN, MICHIGAN
19% 3
11
HOUSTON-THE WOODLANDS-SUGAR LAND, TEXAS
17% 5
12
ATLANTA-SANDY SPRINGS-ROSWELL, GEORGIA
17% 2
13
TAMPA-ST. PETERSBURG-CLEARWATER, FLORIDA
17% 7
14
JACKSONVILLE, FLORIDA
15% 4
15
ORLANDO-KISSIMMEE-SANFORD, FLORIDA
14% 2
16
PROVIDENCE-WARWICK, RHODE ISLAND-MASSACHUSETTS
12% 6
17
MIAMI-FORT LAUDERDALE-WEST PALM BEACH, FLORIDA
12% 5
18
LAS VEGAS-HENDERSON-PARADISE, NEVADA
11% 7
19
SACRAMENTO–ROSEVILLE–ARDEN-ARCADE, CALIFORNIA
11% 9
20
CHARLOTTE-CONCORD-GASTONIA, NORTH CAROLINA-SOUTH CAROLINA
10% 3
Source: realtor.com
