THE REAL ESTATE MARKET TRENDS IN REAL TIME!
This Week from Mike Simonson, Altos Research.
Homebuyers Hit the Brakes, Causing Unseasonal Growth in Inventory!
Happy Monday, and welcome to Barsam & Associates.
If you're new to Barsam, this is our weekly newsletter from Altos, where we share the latest market stats and recent podcast episodes, as well as other news.
Available inventory of unsold homes on the market continues to climb at its fastest clip all year. The total count of unsold single family homes grew by 9,000 this week, which is very unusual for this late in the year. It’s also notable that inventory growth is from weaker-than-normal demand, not from a surge of sellers. The question is whether we’ll see inventory grow in November, which would be unheard of and would be a bearish indicator for home prices in 2024.
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We work hard to keep our clients informed about the market while they’re buying or selling their home. These weekly reports use real-time data so our clients can make decisions based on what’s happening in the market right now and how the market is changing week by week.
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