Insight
Housing inventory growth is running at 1.49% year over year, down from 33% last year.
Positive housing demand leads to inventory almost going negative YOY
Summary
Housing demand remains resilient despite rising mortgage rates, with inventory on the verge of turning negative year over year. Weekly pending sales data is positive, and new listings are above 80,000. Hosts should keep an eye on mortgage rates above 6.64% and potential shifts in inventory.
Key takeaway