Where have owners rushed to list homes for sale? California ranks No. 7

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The “Looking Glass” ponders economic and real estate trends through two distinct lenses: the optimist’s “glass half-full” and the pessimist’s “glass half-empty.”

Buzz: The number of U.S. homes for sale jumped 25% from April to May, the biggest one-month jump in a database that dates to 2016.

Source: My trusty spreadsheet looked inside the St. Louis Fed’s curation of monthly listings stats from Realtor.com.

Debate: Was this large jump a short-term reaction by owners to rising mortgage rates and economic fears, or was it the beginning of a surge for house hunters who have had few choices in the pandemic era? And where did owners rush to sell the most?

Glass half-full

If one sees the May surge as good news for home shoppers, California ranked No. 7 at 37%.

The biggest jumps were in the Western U.S: No. 1 Washington, up 62%, then Utah at 60%, Idaho at 52%, Arizona at 45% and Colorado at 41%.

Smallest? South Dakota at 4%, then Hawaii at 8%, West Virginia at 11%, New York at 11% and Louisiana at 12%,

And California’s rivals: Texas, No. 19 at 27% and Florida, No. 22 at 25%.



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