Week of January 21, 2019

Housing market snapshot

Current inventory by region

Current inventory by region
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Region
Region
Current Inventory
Current Inventory
Midwest 120,300
Northeast 144,146
South 347,840
West 180,085
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State Name
State Name
Current Inventory
Current Inventory
Alabama 8,800
Alaska No Data
Arizona 25,181
Arkansas 3,337
California 86,385
Colorado 12,674
Connecticut 20,266
Delaware 4,709
District of Columbia 1,776
Florida 117,715
Georgia 31,787
Hawaii 3,761
Idaho 3,305
Illinois 40,922
Indiana 973
Iowa 1,599
Kansas 2,588
Kentucky 7,125
Louisiana 6,974
Maine 2,396
Maryland 22,062
Massachusetts 18,225
Michigan 20,987
Minnesota 12,712
Mississippi No Data
Missouri 12,910
Montana 845
Nebraska No Data
Nevada 10,757
New Hampshire 4,893
New Jersey 30,060
New Mexico No Data
New York 30,613
North Carolina 33,352
North Dakota No Data
Ohio 27,578
Oklahoma 10,436
Oregon 7,919
Pennsylvania 30,865
Rhode Island 4,597
South Carolina 12,638
South Dakota 31
Tennessee 2,018
Texas 61,288
Utah No Data
Vermont 2,231
Virginia 23,823
Washington 17,382
West Virginia No Data
Wisconsin 11,876
Wyoming No Data

The chart above shows current housing inventory levels, or the number of properties being actively marketed, based on region for October 2018.

The South has the largest inventory, with 347,840 housing units. The state with the largest number of houses being marketed is Florida, with 117,715 units. A high supply helps keep home prices in Florida around the national average of $215,550, despite steady demand. In fact, home prices in the South are aligned with the nationwide average despite high population growth and demand. Meanwhile, California, with 86,385 homes, has 30,000 less units available than Florida. The high demand and lower amount of inventory gives the Golden State one of the highest median selling prices in the nation.

Low inventory and high demand in states like Colorado (12,674 units) keeps median prices high there as well. Despite having 180,085 units available, it appears Western states like Nevada, Oregon and Washington do not have enough inventory available to keep pace with demand.

The Midwest has a low inventory (120,300 units), hinting that housing demand in the region remains small.

Inventory nationwide has declined by more than 500,000, from April 2018 to October 2018, showing the strength of the summer buying season.

Source data: CoreLogic®

Data date: 12/9/2018

 

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