Single family home inventory rising

Thought I would create a separate thread for this:

It looks like single family home inventory in the South Bay is steadily increasing. Much higher than last year. Is this the beginning of a slow down? It’s been a long time since we had interest rates this high with somewhat normal inventory.

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I was just checking San Francisco listings the other day. Tons of homes on the market here. Price is still pretty firm though. Don’t see any obvious deals on SFH.



Looking at inventory is an approach use by realtors to simplify the issue for us. Exactly what will happen to the prices will depend on family formation, migration (in out of a neighborhood/city/place), household income (related to jobs and stock market), new construction and inflation.

Please remember if the new unit for sale is not a new construction, it is previously occupied (by owners or renters or probate). So without new construction, the housing stock remains unchanged regardless of the “inventory”.

Btw, the inventory reasoning is:
4-6 months is balance market
More than 6 months is bearish
Less than 4 months is bullish

That is if inventory is less than 4 months, a rising inventory is still bullish.

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Price is firm. In fact all the cities below show double digit gain YoY.

Sunnyvale is sprinting away like a wild horse. :horse: May be benefiting from the strong stock gains in all the semi companies in the area?

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huh. what tool is this? Looks redfin but couldn’t really make it out. I normally just use redfin data center.

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Redfin site organization is really a mess. I didn’t even know about its Data Center.

Here’s where I got my city level data:

There is a big search box on the upper right corner. Type in say “San Francisco” and you get the price trend of SF up to the last 5 years. Can compare with different city and zip codes. Pretty good first order analysis tool.

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