Today’s podcast covers various topics but the key is the whispers of bidding wars again in housing.
How can this be the case?
Let me make myself clear if I didn’t do so post-2020. The only reason we are seeing some bidding wars pop up is NOT BECAUSE OF RECORD-BREAKING DEMAND!
Just look at purchase application data; that tiny bounce from a waterfall dive in demand in 2022 isn’t the prime driver here.
Because of this chart, and I draw these lines here to make my point very clear, we have an issue that isn’t so easy to solve.
NAR total inventory levels: 970,000, all time low was last year at 860,000
This is not a cheerful story if this continues, and for those who want to hear the most recent market update with economists, myself, and others, you can take listen to the most recent HousingWire Market Update here:
Every Monday for HousingWire, we bring out the weekly HousingWire Tracker report, where I take a deep dive into the current and forward-looking housing data lines so you can be up to date with the data lines that matter in housing. If you would like to join HW plus to have access to the tracker, please use my LoganVIP20 code.
“Keep your face always toward the sunshine and shadows will fall behind you” Walt Whitman
Logan Mohtashami is a Lead Analyst for Housing Wire, a financial writer, and a blogger covering the U.S. economy with a specialization in the housing market. Logan Mohtashami, now retired, spends his days and nights looking at charts and nothing else