Housing Inventory, Better? June 8, 2022

From the middle of 2019 through early 2021, housing inventory declined increasingly fast.  The worst decline occurred in early 2021 when year to year inventory fell a whopping 55% due to unrelenting Covid-19-induced demand. Since then, the declines have steadily shrunk, to -30% in January 2022, to zero in early May and now up 11% year to year, the first year to year rise three years! That said, inventory is still 50% below its pre-pandemic level. It should keep rising.