Inventory and active listings are way down across the US over the last year. -25% in the typical market. Some of the areas with the biggest declines in inventory are in the Southeast – particularly Raleigh, Tampa, and Nashville.
But some areas have experienced an inventory SURGE. In particular, Boise, Idaho has had a +34% increase of inventory over the last 12 months. No other metro is even close.
Why is Boise seeing such a large inventory increase before other cities? Because it’s Housing Bubble to Housing Crash timeline is six months ahead of everyone else. It was back in the Fall 2020 when inventory in Boise initially crashed, compared to Spring 2021 in most other markets.
That’s why home prices in Boise started surging in late 2020, while home prices in the rest of the country didn’t start surging until Spring. And that’s also why inventory in Boise is already on the rebound.
It’s likely that inventory in Boise keeps increasing substantially, which could result in price declines occurring over the next several months. Boise is THE CITY that will lead the crash.
Home buyers and real estate investors in low inventory markets throughout the southeast, such as Raleigh, Tampa and Nashville, should find solace in Boise’s inventory surge. It will likely spread to the rest of the country over the next six months.
Realtor.com Data: https://www.realtor.com/research/data/
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0:00 First City to Crash
1:21 Inventory: SURGE or DECLINE?
5:11 Seller’s Market in Most Cities
7:33 Boise v. Raleigh Price Appreciation
10:22 The Relevance of Boise
11:33 Active Listings YoY % Change
13:08 Have Some Hope: Think of Boise
14:33 Message to the Skeptics
16:39 Become a Reventure Member!
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