I'm by no means saying we're close to a neutral or buyer's market, but one of my favorite unbiased housing economists (Mike Simonsen of Compass, founder of Altos Research) pointed out that he's beginning to see some noticeable changes in inventory growth in the Northeast (at least for this week).
NJ led last week in terms of active, not-under-contract, inventory growth from a % change over last week - 11%. Other Northeast states had a similar trend.
Meanwhile, states like FL and TX, what were comfortable buyer's markets, aren't growing as rapidly as they were. Maybe the Northeast is finally trying to normalize?
Thoughts?
u/Affectionate_Nose_35 — 16 days ago