Housing inventory in 35 key markets overall was down 35% year-over-year in January, down 8% YoY in March, and is now up 79% YoY, according to market-watcher Bill McBride of the CalculatedRisk blog.

August is much of the same, he said. According to McBride’s first, early look at local markets in August, “We are seeing a sharp decline in closed sales, and inventory is up significantly year-over-year.” He said new listings are down as the “sellers’ strike” continues.

Paul Bergeron

 

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