Inventory continues to be the name of the game.
Last week we had 1.35 months of inventory Year-over-Year (YoY), while 2020 had 2.18, 2019 had 3.21, and 2018 had 2.0 months of inventory YoY.
We continue to have high buyer demand, as demonstrated by our under-contracts for the year. 2021 has 378 under-contracts year-to-date, 2020 459 u-c YTD; 2019 had 368 u-c YTD; and 2018 had 358 u-c YTD.
Remember, the reason we look at under-contracts instead of sales is that u-c's are a coincident indicator of market behavior; sales are a lagging indicator, demonstrating market behavior 30-45 days prior.
On trend with the second half of last year, seller price changes remain lower than normal, as overpriced sellers wait for the market to rise to their pricing.
<- Data nerds, click up there