Insight
Housing inventory growth is running at 0.89%, while demand has held up, despite rising mortgage rates.
Housing demand stays firm, pushing inventory close to negative YOY
Summary
Housing inventory is on the brink of going negative year over year, though the market is still considered healthy. Mortgage rates are above 6.64%, with new listings increasing and price-cut percentages remaining low. Pending home sales are at their seasonal peak. The potential end of the Iran conflict could significantly impact these housing trends.
Key takeaway