Housing inventory continues to rise
An update 83 days after my first stake in the ground on the housing inventory. Back then, 40,875 units were on the market. Today, that number is 47,021. That is 6,146 more units for sale, or 74 additional unsold units per day since June 6.
In the anecdotal evidence department, I know of several people with attractive apartments in good locations, which have gone unsold since April or earlier with hardly any interest and not even a low-ball offer. The market is definitely on the fence.
UPDATE 2: And the rate is still the same: On October 8th, the number is 49,982, which makes 73 per day since June 6. Tracing all the way back to Feb 22, which marks the low point of 31,946, it’s 79 additional units per day.