This was just sent to me from a friend at title company. That is nuts......
This is how our market is right now as well. Everyone lists their home in the summer here, especially with our winters. This time of year you see the inventory shrink from the homes that have sold and the homes that are being taken off the market.
Just curious, what is "nuts" about that graph? Does it look very different in other markets?
@Joel Fine We have very little housing inventory here. We have a ton of jobs coming here from Apple, to Google, to Indeed, to Oracle, etc. The metro area is at 2.7% unemployment. As of June 2019 there were 33,200 unemployed people here and 48,900 available jobs. Given that Google has leased up a 39 story building prior to it even being built downtown is very interesting to me. They can't get local folks here because we don't have the manpower so they are recruiting them from elsewhere and bringing them in. That is one reason why I said nuts. And the metro area has barriers to entry, in regards to building housing such as a notoriously slow permit process, environmental constraints, geography constraints, transportation constraints, etc. All that adds up to nuts, haha!
Thanks for sharing! The way I'm looking at that graph, it looks like it's stabilizing a little bit. Inventories started the year higher than in the past, and the curve is flattening. Any idea how it compares to other similar markets?