Inventory over time


HOUSING INVENTORY PLUNGED IN THE FINAL QUARTER OF 2020, AS NEW construction fell behind surging demand. After nearly two years with national inventory almost never dipping below 1.4 million units, the figure crashed though that barrier in September, dipping to about 1.39 million. Inventory slipped further each month thereafter, ending the year at just over 1.14 million.

The drop in inventory followed lockdowns interrupting the normally busy summer building season that typically replenishes the housing supply. In the past, inventory surged to annual peaks of more than 1.78 million units over the summer before dropping back down during the winter months. But last year, inventory never reached higher than a peak of 1.46 million in July.

Inventory over time
January 20181,428,882
February 20181,386,415
March 20181,443,722
April 20181,530,952
May 20181,632,853
June 20181,706,720
July 20181,758,138
August 20181,783,001
September 20181,772,128
October 20181,751,952
November 20181,695,252
December 20181,598,465
January 20191,510,565
February 20191,462,196
March 20191,509,037
April 20191,575,782
May 20191,668,403
June 20191,740,269
July 20191,784,960
August 20191,795,506
September 20191,776,693
October 20191,746,728
November 20191,673,221
December 20191,556,920
January 20201,453,264
February 20201,403,334
March 20201,429,363
April 20201,417,225
May 20201,439,225
June 20201,438,615
July 20201,463,567
August 20201,434,155
September 20201,389,612
October 20201,339,544
November 20201,256,135
December 20201,142,511
Source: TRD analysis of Zillow For-Sale Inventory data for all home types in the biggest metropolitan statistical areas for 2018 to 2020.

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