The hottest Housing supply Substack posts right now

New home sales dropped to an annual rate of 657,000 in January, marking a decline from previous months. This shows a slowdown in the housing market compared to last year.
The average price of new homes has decreased by 5.8% from its highest point due to changes in what types of homes are selling.
There is a high inventory of homes available, with a supply of 9 months, which is more than the usual range of 4 to 6 months. This indicates more choices for buyers but also suggests a slower market.

New home sales in December 2024 hit 698,000, which is a good increase from the previous months. This suggests the housing market is showing some positive movement.
The median price of new homes has dropped by 7.2% from its peak. This could make new homes more affordable for buyers.
There are currently about 8.5 months of new home supply available, which is higher than the normal range. This means there are lots of homes for buyers to choose from.

Asking rents are pretty stable, with a slight year-over-year drop of 0.6%. This means many people are paying about the same for their apartments as they did last year.
There's a lot more new apartments being built, leading to a higher vacancy rate. This increase in supply is putting pressure on rents and keeps them from rising significantly.
Single-family home rents grew by 1.7% last year but are showing signs of slowing down. Overall, rent growth is not as high as it used to be, indicating a cooling market.

Homeownership rates can be misleading if not adjusted for changes in household formation and age demographics.
The reported increase in homeownership rates may be due to an aging population rather than a true rise in homeownership.
The shift towards renting and living with roommates may continue unless changes are made in housing supply and mortgage regulations.

Asking rents have mostly stayed the same year over year, with a slight decrease of about 0.7%. This means that renting is a bit cheaper now than it was last year.
There are more rental apartments available now, which has led to a higher vacancy rate of 6.8%. This increase in supply is likely to keep rents from rising quickly.
Single-family home rents did see a small increase of 2.4% year over year, but this is the slowest growth seen in some time. It suggests that rent prices in general are stabilizing.

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In January 2024, new home sales were reported at a seasonally adjusted annual rate of 661,000, showing a positive trend compared to the previous year.
The median new home price has dropped by 15% from its peak, indicating potential shifts in the real estate market.
Inventory levels for new homes show variations, with completed homes for sale at a level close to the norm, while homes under construction are high but below previous peak levels.

Real estate analysis has changed due to broken real estate supply.
Interest rates are no longer the main factor influencing real estate prices.
In the current real estate context, location matters less than the systematic consequences of inadequate supply.

In expensive cities, people oppose public amenities because they can lead to displacement when bundled with scarce housing.
A city's housing demand can be categorized into shelter, neighborhood amenities, metropolitan area scarcity, and endowments.
Metro area scarcity causes prices to rise uniformly across neighborhoods, impacting affordability for households with lower incomes.

Inflation may have ended, as data shows a decline in prices over the past months.
Removing the shelter component from inflation measurements may lead to a more accurate CPI.
Addressing the housing supply issue could resolve misconceptions around monetary policy and inflation.