Inventory Shows Signs of A Rebound, Just in Time for Spring

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  • U.S. for-sale inventory fell just 1.1% month-over-month in March, a far shallower decline than in previous months, and was up from February in 19 of the nation’s 50 largest markets.
  • The typical U.S. home value rose 1.2% in March from February, to $276,717, the largest monthly jump ever recorded in the Zillow Home Value Index.
  • The Zillow Observed Rent Index rose to $1,721, up 0.9% from February, the largest month-over-month increase in any March on record.
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Inventory levels for both SF and SJ are showing signs of rebound:

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Ditto for Austin. However, only slowdown in price appreciation, still appreciating at higher than historical rate.