5 More Local Housing Markets in August

Alabama, Austin, Maryland, Phoenix, Rhode Island

I’m tracking about 30 local housing markets in the US. (this update makes 25 so far for August).

Some are states, and some are metropolitan areas. I think it is especially important to watch inventory this year, especially active inventory and new listings.

I’ll update this table throughout the month as additional data is released. This note adds Alabama, Austin, Maryland, Phoenix, and Rhode Island.

Note that inventory is up year-over-year (YoY) in Sacramento, one of the few local markets with a YoY inventory increase.

Here is a summary of active listings for the first 25 housing markets released for August. So far inventory is down 1.1% in August month-over-month (MoM) from July, and down 28.3% YoY. Denver is not included in the totals (included in Colorado).

Note: Additions are in BOLD in tables.

And here is a table for new listings in August. So far new listing are down 1.7% YoY. However, not all areas report new listings, and Houston just reports the annual change. Given the size of the Houston market, a 10.9% annual increase in New Listings would make the change solidly positive.

And a table of August sales. So far sales are up 0.2% YoY, Not Seasonally Adjusted (NSA).