Follow the inventory housing inventory Has been increasing big time up by about 30 plus% from a year ago on National Level however when looking at the 100 Most populous us metros 10% of them have More house for sale right now compared To five years ago back in 2019 uh this is based on an article from Lance Lambert of resic club.com he Actually looks at um 800 plus metric R To see how the amount of house ofer sale Compares to the past several years and Also how the amount of new listings has Been changing as well so let's go and Dive Right In because um I talk on the Channel quite a bit regarding you know What's happening on a national level but This article from Lance is excellent Analysis regarding inventory levels or Inventory changes compared to the past Several years looking at preco levels And also have compared to the past Couple of years uh this has just posted On May uh 4th and this by the way is on Resic club pro I believe their annual Membership is around $300 um per year Which of course is annual membership but It's around $300 per year and it's a Fantastic website to see um articles Regarding our US housing market and Because I am a resi club pro member I Can share this with you guys um so let's Go and Dive Right In here so in April 2024 by the way he looks at data from
R.com they actually just posted April's Numbers so he Compares inventory levels And also new listings compared to the Past several years he says in April 2024 There's around 734000 active houses for sale on Realtor.com I believe this only includes Existing houses excluding brand new home Construction that's a 30% increase Compared to April of 2023 and a whopping 93% increase Compared to April of 2022 when many houses were selling so Fast they weren't even being listed as Inventory levels so if a house gets Listed for sale back in April 2022 that Was the most insane housing market by The way I've ever seen and I've been a Real estate agent here in Sacramento for Over 11 years uh the most insane housing Market I've ever seen anyways back in April 2022 back then it was very challenging To get an appointment to look at a house Let alone um help a client buy a house Because a house got listed for sale Everyone contacted the listing agent to Schedule appointment and their Appointments got booked up and so if you Didn't contact the agent within a matter Of hours of the house being listed for Sale you know good luck on actually even Showing the property uh to your clients So anyways it says back then many houses
Were selling so fast they weren't even Listed as inventory levels so here's a Map uh they provided looking at um the Changes of inventory from April 23 Through April 24 um by each of the Counties so the counties that are shaded In green especially in dark green are The biggest increases in the amount of House for sale whereas um areas in red Or orange or yellow here are uh have Fallen compared to uh 12 months ago so Kind of just eyeballing this it appears That a lot of the western markets um are Up compared to a year ago however some Areas in Nevada are down um pretty Drastically compared to um 2023 so for example in um lavender Nevada it's down by 15.8% in Sacramento California where I Live again it's at around a 40.3% Increase um year-over-year whereas Monteray is up by 31% and also we have Um s San Francisco which is right here Up by only 99.4% other markets that are seeing a Fairly big increase or much of Arizona New Mexico Florida and also Maine for Example now let's take a look at active Listings compared to five years ago uh From April 2019 so overall active Listings or housing inventory um were About 35% below April 2019 levels when There was approximately 1.1 million Houses for sale um here's something I
Absolutely agree with him regarding this Generally speaking every housy Market's Different but generally speaking he Markets where inventory has returned to Pre pandemic levels have experienced Weaker home price growth or outright Decreases over the past 21 months in Contrast housing markets where inventory Remains far below pre-pandemic levels Generally speaking experienced stronger Home price growth over the past 21 Months so here's a map showing just that The amount of houses for sale from April Of 2019 and just eyeballing this it's Pretty astonishing to see that much of The um uh Eastern or North Eastern side Of the US are experiencing big decreases In the mounted houses for sale much of New York Maine Vermont Etc um we're also Seeing that in um California as well for The most part so for example in Sacramento County were down by 40% from April of 2019 um also um Phoenix Arizona is down For the most part New Mexico is also Down big time as well uh but the Aly Here is much of Texas much of Texas have Experienced big increases compared to 5 Years ago so for example in Brewster Texas up by nearly 98% from 5 years ago Uh Wilson Texas up by 52% um and also we have um Jeff Davis Reevs Texas as well as um Picos Texas up
By over 90% in contrast in New Haven Connecticut it's down by 73% Resy Club also provided this as well Looking at the 50 largest US metros to See how they far so overall on National Level were down by 35% from April of 2019 down by 22% from four years ago but Up by a whopping 69% from 3 years ago And up by 93% from two years ago and Again the year- ofe changed up by 30% Now in uh New York and also Jersey City Down big time down by 51% from 5 years ago also big decreases In Chicago which coincidentally these Are areas in which home prices increase Um big time as well now going down the Line here looking at Houston Texas only Down by 19% compared to the national Average down by 35% uh where else we have um Washington DC down by 49% Philadelphia down by 58% Boston down by 51% whereas Phoenix Arizona and uh San Francisco um Oakland And Berkeley that's in the East Bay um Down by 11% from 5 years ago now here's Where it gets really interesting look at This San Antonio Texas up by 15% from 5 Years ago giant increase of 2 144% from two years ago 3 years ago up By whopping 279 we're also seeing big gains in Austin Texas that's actually the biggest Increase um of these 50 biggest metros Um Austin Texas leading the nation up by
A whopping 26% from April 2019 four years ago up by 46% look at This so 422 per gains compared to three years Ago absolutely insane and also two years Ago up by whopping 34 2% in contrast we have areas like Cincinnati Ohio down by 54% um from April 2019 Cleveland Ohio down by 61% Sacramento California is down by 39% Also down um from four years ago as well Even though we're up compared to the Past several years in Sacramento or Greater Sacramento area so when looking At these um 50 most populous metros the Area in which um they have a lack of House of for sale um the most is Actually in Harford Connecticut down by 79% from 5 years ago go four years ago Down by 71% now again that is vastly different Compared to the national average down by 22% from four years ago and down 35% From April of 2019 here's also a really Good snapshot looking at inventory since April of 2017 um I haven't found a whole lot of Sources um when looking at inventory um Prior to 2019 um r.com does an excellent job of This though because they do provide data Through 2017 which is what where they Got their data from here so in any case
Looking at the number of houses for sale This April again around 734000 um higher than the past several Years and of course way higher or about Double the levels we saw in April of 2022 however looking at pre-pandemic Levels we should be having a range of 1.1 to 1.2 million hous for sale now we Only have 734000 when we search this looking at Austin Texas though uh the biggest Increase compared to five years ago just Absolutely insane look at that wow I I Haven't seen this yet so this is crazy All right so this blows my mind 8900 House of sale big big big increase Compared to the Past um couple months Here but this is wild though because They actually have more house for sale During any month since at least January of 2017 and also way higher compared to the Past um several years and also Significantly higher compared to 2018 as well as 2017 also for example back in April of 2017 uh right now they have Approximately 33% more House of sale in Austin Texas when comparing this to the National average um since April of 2017 We're down by about 39% in contrast if you guys want to see Why home prices have increased the most In Harford Connecticut this is the
Answer right here only 858 houses for Sale as of this April compared to over 4,000 looking at preco levels so for Example April 2017 just under 4.9 th000 House of sale now there's only 858 that means in Harford Connecticut They have approximately 82% less houses For sale compared to April of 20177 Let's also have a look at the greater Sacramento area as well around 2800 hous Of for sale uh this is at least a Three-year high but way lower compared To uh 2017 and 2018 and 19 so for Example from 2017 we're missing around 1,000 House of Our sale right now in contrast looking At San Antonio Texas they have around 9900 hous of sale this April this is the Highest levels in the past 7 years Looking at any single month since January of 2017 in fact they have Approximately 36% more House of sale Compared to April of 2017 one more thing I do want to share regarding inventory Levels compared to the Past 5 years I Want to share um the Metros of the 100 Most populous metros that are up Compared to 5 years ago so those metros Are San Anton up by 15.5% Austin up by 26% then we have Memphis Tennessee up by nearly 9% New Orleans up by nearly 6% um cap portal Florida getting very Close at more or less flat from April
2019 but lakew Winter Haven Florida up By 33% uh Daytona Beach up by 3% colado Springs up by 16% Mc Allen Mission Texas Up by 11% um Palm Bay Milbourne Florida Up by 4% and then we saw a 7 half% gain In Spokane Washington in contrast let's Have a look at the number of newly Listed houses uh compared to 5 years ago Let's see the biggest increases Austin Texas up by 13.4% the national average is down 22% So quite the difference there up by 133% Other gains is Northport Sarasota Florida up by 2% it's flat in Oman Nebraska up by 7% in Cape Coral Fort Meers Florida um also we saw a huge Increase of new listings up by 29% in Lakeland Winter Haven Florida which is Probably why inventory has increased by 33% from 5 years ago we're also seeing Gains in Palm Bay um Florida up by 16% Augusta Georgia up by 3% Myrtle Beach uh South Carolina up by 8.3% so at the 100 most populus us Metros the biggest increases of the Number of newly listed houses from 5 Years ago Lakeland Winter Haven Florida Up by 29% look at this um from four Years ago up by 54% in um Austin Texas which is in the Number two spot uh compared to um April 2020 technically right at the onset of Covid up by
43.5% compared to the national average Up by 24% let's look at Redfin status Center really quickly here and then We'll share uh what's happening on National level and then we'll share What's happening in Austin Texas to Share the differences there uh because I Want to share an update regarding prices There so when uh the number of new Listings on a national level uh According to redin is actually up by 15.2% uh this is higher compared to 2023 Here but still lags behind 2022 and 2021 So up by 15% year-over-year whereas Pending home sales are down 3.4% so new listings Rising where Whereas contracts being signed are Decreasing year-over-year also pening Home sales at least a three-year low as Well in regards to active inventory Levels or the amount of hous for sale Also a three-year High here as well up By 12% from uh 12 months ago as well Regarding the median so price that is Actually up by 5% year-over-year and Also um very close you know more or less On par with all-time record highs in Contrast let's have a look at Austin Texas um by the way this is a public Website you guys can look any look for Any Metro so the uh median so price There is kind of hidden right there it's Flat Um year-over-year
469,000 compare this to the same time Frame in 2022 which is right about there it was At 54,000 so even though it's flat Year-over-year it's still way below 2021 Or 2022 levels and also more less on par With what we saw in 2021 I bet new listings are increasing Yeah look at that new listings Increasing at least a threeyear high and Up by 24.5% pending home sales are down 5.5% Wow that blows my mind so even though We're seeing what is this you know 25% More houses being listed for sale we're Not seeing an increase at all regarding Pending sales because that decreased by 5.5% um that is a recipe for disaster in Austin Texas uh let's look at the share Price drops in Austin Texas it's up um By or it's at 8.1% at least A3 or high In Austin Texas as well uh but please me A comment below your thoughts regarding Today's video if you guys want me to Make this uh a monthly video for you Guys I'm happy to do so um actually talk To uh Lance Lambert um several months Ago about one month after he started the Company and he gave me permission to Share this uh with you guys even though It's um their um Pro membership um data To look at anyways I hope you guys Appreciate today's video if you guys got
Any value of today's video then please Hit the like button I great appreciate That of course I appreciate you if you Guys want a realate agent referral you Can email me at jasonjason walter.com or If you want to buy or sell house uh in The greater Sacramento area of course Feel feel free to email me there as well Um hope you guys have an awesome day Look forward to seeing you on the next Video A [Music] [Music]
