|State name||Year-over-year change in absorption rate|
|District of Columbia||-24.64%|
|New Mexico||No Data|
|North Dakota||No Data|
Nationally, the absorption rate, or the rate at which available homes are sold in a given period, had a year-over-year decline of 22.40% by January 2019.1 This typically means fewer homes are being sold, which could lead to higher inventory and cheaper prices. Massachusetts was the only state to see a year-over-year increase in its absorption rate.
Hawaii, which has some of the most expensive house prices in the country, had the steepest drop from 41.68% in January 2018 to 17.82% in January 2019. West Virginia had the second-largest decline possibly due to seasonality and low demand. Regionally, the West showed the biggest decrease. Eight states there had an absorption rate drop of 20% or more. This slide may be due to affordability issues.
1Source data: CoreLogic®
Data date: 3/25/2019
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