In some mildly good news for sellers, months of inventory pulled back a bit returning just about to the pre-pandemic average for the month of October:
Prices bounced a bit, after a drop last month, after an increase the month before, and so on… they don’t seem to be going much of anywhere.
The past decade’s relationship between months of inventory and near-term price changes suggests that they will continue to not go much of anywhere for a bit:
Longer term, inflation-adjusted prices and monthly payments remain very high:
More charts below…
