Week of October 29, 2018

Absorption rate change

Year-over-year change in absorption rate for August 2018

Year-over-year change in absorption rate for August 2018
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State Year-over-year change
in absorption rate
Absorption rate
for August 2018
Absorption rate
for August 2017
AL 9.3% 23.6% 21.6%
AZ 46.3% 37.9% 25.9%
CA -14.0% 33.1% 38.5%
CO 1.7% 52.4% 51.5%
CT 6.8% 17.2% 16.1%
DE 8.8% 23.5% 21.6%
FL -6.1% 24.5% 26.1%
GA 1.1% 28.8% 28.5%
HI -3.8% 28.0% 29.1%
IA -4.0% 31.2% 32.5%
ID 43.3% 54.3% 37.9%
IL 1.6% 25.0% 24.6%
IN 22.0% 40.0% 32.8%
KS 0.4% 47.4% 47.2%
KY 3.4% 36.9% 35.7%
LA -12.6% 19.4% 22.2%
MA 14.7% 35.8% 31.2%
ME 19.0% 30.1% 25.3%
MI 7.5% 33.0% 30.7%
MN 1.5% 39.7% 39.1%
MO 28.4% 36.2% 28.2%
MT -15.3% 22.1% 26.1%
NC 6.5% 29.5% 27.7%
NH -10.7% 25.1% 28.1%
NJ 5.7% 20.3% 19.2%
NV 7.4% 46.7% 43.5%
NY 5.4% 17.6% 16.7%
OH 17.0% 36.5% 31.2%
OK 1.1% 26.5% 26.2%
OR 1.0% 38.6% 38.2%
PA 16.9% 31.1% 26.6%
RI -11.7% 23.5% 26.6%
SC 13.8% 23.9% 21.0%
SD 11.5% 25.3% 22.7%
TN 11.3% 21.7% 19.5%
TX 7.7% 29.3% 27.2%
VA 0.7% 29.9% 29.7%
VT -4.1% 14.0% 14.6%
WA -9.5% 50.3% 55.6%
WI -5.6% 28.4% 30.1%
WV 0.5% 18.3% 18.2%

This map shows the fluctuation of the absorption rate per state from August 2017 to August 2018 and illustrates some regional trends as well. Absorption rates improved in most states in August 2018, but 11 states saw negative year-over-year changes in absorption rate: Iowa, Vermont, Hawaii, Florida, Washington, Wisconsin, New Hampshire, Rhode Island, Louisiana, California and Montana.

Arizona, Idaho and Missouri led in year-over-year changes, which were all above 28%. Idaho's rate increased from 37.9% to 54.3%, indicating that its market was in high demand. The data in the table shows that the states with the highest absorption rates in August 2018 were Idaho, Colorado and Washington, which all had rates of more than 50%. This trend indicates that there was less than two months' supply of homes, and the supply of homes may shrink rapidly in these markets. In most states, absorption rates were greater than 20%, which suggests that these states were seller's markets in which homes were sold quickly.1

1Source data: CoreLogic®
Data date: 09/25/2018

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