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Home Inventory Levels: US Cities With the Most—or Fewest—Homes for Sale

Pro Builder

Home Inventory Levels: US Cities With the Most—or Fewest—Homes for Sale ldeakins Mon, 06/05/2023 - 10:58 While for-sale inventory is rising slowly but steadily nationwide, many markets remain undersupplied and overpriced on a year-over-year basis The U.S. Inventory remains tight in cities such as San Jose, Calif.,

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A Record Share of U.S. Homes Are Worth $1 Million or More

Pro Builder

in February as a lack of inventory drives up sale prices. Nearly nine out of 10 properties in San Francisco and San Jose tallied price tags of $1 million or more at the start of 2022, but Anaheim, California saw the fastest price growth with a 55% share of $1 million homes, double its original total.

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Monthly Housing Inventory Drop Improved Slightly in April

Pro Builder

Monthly Housing Inventory Drop Improved Slightly in April. Back in March, there were signs of a possible upturn in inventory for the month of April, yet housing inventory dipped 1.4% Back in March, there were signs of a possible upturn in inventory for the month of April, yet housing inventory dipped 1.4%

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Housing Inventory Shows Promising Signs of Potential Rebound

Pro Builder

Housing Inventory Shows Promising Signs of Potential Rebound. Housing inventory began to show its first signs of a rebound in March when stock took a much shallower dip and even increased from February in some markets. For-sale inventory dropped 1.1% For-sale inventory dropped 1.1% cbroderick. Fri, 04/23/2021 - 10:10.

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Almost 6,000 U.S. Homes Have Sold for at Least $100,000 Above Asking Price in 2022

Pro Builder

Elevated competition from rising mortgage rates and low inventory is driving up sale prices in popular metros like Los Angeles, where 718 homes sold for at least $100,000 above the asking price from January 1 to February 15, Redfin reports. Los Angeles tops the list, followed by Oakland, San Jose, Anaheim, San Francisco, and San Diego.

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The Housing Market Is Rebalancing, and Those Who Can Still Afford Homes Are Poised to Benefit

Pro Builder

List prices are beginning to fall as active inventory spends more time on the market, meaning that those still searching for homes are finding more options and less competition. San Jose saw the largest monthly home value decline at -4.5%, followed by San Francisco (-2.8%), Phoenix (-2.8%), and Austin (-2.7%).

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Starter Homes Are More Affordable Than Renting (in Some Places)

Pro Builder

The types of starter homes for sale also play a key role in monthly payments, with active inventory in these buyer-friendly metros including nearly two times the share of single-family starter homes (56.1%) than in condo-heavy markets that favor renting. .

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