What is going on with home prices in the 1st Q of 2022?

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What is going on with home prices in the 1st Q of 2022?

Altos Research is the premier resource for real-time real estate data.

National Housing inventory

As of March 25th, inventory was at 253 thousand (7-day average), compared to 248 thousand the prior week. Inventory was UP 2.4% from the previous week.

Last year inventory bottomed seasonally in April 2021 – very late in the year. This year, by this measure, inventory bottomed seasonally at the beginning of March.

Housing inventory is Low

Inventory is still very low. Compared to the same week in 2021, inventory is down 19.0%, and compared to the same week in 2020, and inventory is down 66.1% from 747 thousand.

One of the keys will be to watch the year-over-year change each week to see if the declines are decreasing. Here is a table of the year-over-year change by week since the beginning of the year.

Week Ending YoY Change
12/31/2021 -30.0%
1/7/2022 -26.0%
1/14/2022 -28.6%
1/21/2022 -27.1%
1/28/2022 -25.9%
2/4/2022 -27.9%
2/11/2022 -27.5%
2/18/2022 -25.8%
2/25/2022 -24.9%
3/4/2022 -24.2%
3/11/2022 -21.7%
3/18/2022 -21.7%
3/25/2022 -19.0%

Source: Calculated Risk

Boston condos for sale

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