by Calculated Risk on 7/21/2021 03:50:00 PM

I'm gathering existing home data for many local markets, and I'm watching inventory very closely this year.

The table below shows some local market data for June.

Note: California reported a 15.4% increase in active inventory from May to June, but they don't report the actual numbers - so California isn't include in the table below.  But this is similar increase to most other areas.

As I noted in Some thoughts on Housing Inventory

The key for housing in 2021 will be inventory. If inventory stays extremely low, there will be more housing starts and a larger increase in house prices. However, if inventory increases significantly, there will be fewer starts and less price appreciation.

Although inventory in these areas is down about 43% year-over-year, inventory is up 12.6% month-to-month.  Seasonally we'd usually expect an increase in inventory from May to June - so some of this increase is seasonal (as opposed to a shift in the market).   

It does appear inventory bottomed seasonally in March.

Existing Home Inventory
	Jun-21	May-21	Jun-20	YoY	MoM
Alabama	9,954	9,363	16,518	-39.7%	6.3%
Atlanta	7,787	7,530	17,596	-55.7%	3.4%
Boston	3,822	3,418	4,697	-18.6%	11.8%
Charlotte	3,462	3,104	7,182	-51.8%	11.5%
Colorado	9,191	7,034	22,230	-58.7%	30.7%
Denver1	3,122	2,075	6,383	-51.1%	50.5%
Houston	24,225	22,607	35,281	-31.3%	7.2%
Indiana	7,743	6,559	12,139	-36.2%	18.1%
Las Vegas	3,029	2,560	6,695	-54.8%	18.3%
Maryland	8,550	7,490	15,558	-45.0%	14.2%
Minnesota	10,227	8,953	17,285	-40.8%	14.2%
New Hampshire	2,505	1,959	3,613	-30.7%	27.9%
North Texas	9,747	8,126	19,406	-49.8%	19.9%
Northwest	6,358	5,533	9,670	-34.3%	14.9%
Phoenix	5,866	5,218	8,792	-33.3%	12.4%
Portland	2,722	2,339	4,109	-33.8%	16.4%
Rhode Island	1,985	1,143	2,966	-33.1%	73.7%
Sacramento	1,297	1267	1,495	-13.2%	2.4%
South Carolina	11,578	11,278	22,676	-48.9%	2.7%
Total1	130,048	115,481	227,908	-42.9%	12.6%
1excluding Denver (included in Colorado)