{"id":4152,"date":"2023-05-07T21:06:32","date_gmt":"2023-05-07T21:06:32","guid":{"rendered":"https:\/\/frankbuysphilly.com\/housing-market-tracker-spring-inventory-falls\/"},"modified":"2023-05-07T21:06:32","modified_gmt":"2023-05-07T21:06:32","slug":"housing-market-tracker-spring-inventory-falls","status":"publish","type":"post","link":"https:\/\/frankbuysphilly.com\/housing-market-tracker-spring-inventory-falls\/","title":{"rendered":"Housing Market Tracker: Spring inventory falls"},"content":{"rendered":"
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Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. Hopefully, this is just a blip, which can occur from time to time with weekly data. We had a lot of drama over the week between Federal Reserve<\/a><\/strong> meetings and banking stress, and mortgage rates<\/a> and purchase applications<\/a> both fell.<\/p>\n Here\u2019s a quick rundown of the last week:<\/strong><\/p>\n The numbers this week are unfortunate: inventory should be growing like it does at this time every year. But, the weekly inventory data can occasionally have big moves up or down that can deviate from the longer seasonal trend so I need to see a few more weeks of inventory declining before I make too much out of one week. <\/p>\n However, one thing is for sure, housing is not going to crash due to large-scale panic-selling \u2014 a scare tactic of late 2021 that didn\u2019t work then or now. New listing data was trending at all-time lows in 2021 abd 2022 and now it\u2019s creating a new all-time low trend in 2023.<\/p>\n\n
Weekly housing inventory<\/strong><\/h2>\n