PRICING PRESSURE
05/27/2026 |
Existing housing inventory is rising and while still below pre-Covid levels, April’s reading is the best since 2020. However, sales activity is flat as a hockey puck. That combination is pushing up months-of-inventory, putting downward pressure on home prices. To wit, the latest Case-Shiller data, for the month of March, shows home prices falling 0.22% M-o-M and rising 0.7% Y-o-Y, less than inflation. Real home prices are declining.