CR: Housing Inventory Up 18.5% YoY

MONDAY, JUNE 20, 2022

Calculated Risk headline: Housing Inventory June 20th Update: Inventory up 18.5% Year-over-year…

Inventory usually declines in the winter, and then increases in the spring. Inventory bottomed seasonally at the beginning of March 2022 and is now up 74% since then.

As of June 17th, inventory was at 419 thousand (7-day average), compared to 396 thousand the prior week. Inventory was up 5.6% from the previous week. Inventory is increasing much faster than normal for this time of year (both in percentage terms and in total inventory added).

Note: Next week, inventory will likely exceed the peak in 2021.