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Calculated Risk


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The housing market’s historically tight inventory conditions finally started to ease in May, but that did little to immediately tame the record-strong home price appreciation that the market has experienced in recent months. The number available homes across the nation finally ticked up this spring, albeit from a historically low reference point, after spending most of the last year in a steady decline. Still, price pressures remain very firm and appear ready to stay that way in the months to come. Indeed, sharply-rising prices do appear to have priced out some home shoppers, particularly those looking to enter the market for the first time, and causing fatigue among would-be buyers. But overall demand for homes remains very firm, as bidding wars persist and the still-relatively few homes available for sales continue to fly off the shelves at a historically fast pace. Increased inventory levels should eventually help tame the record-high pace of price appreciation, but it ....

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Calculated Risk


The Census Bureau released the Residential Vacancies and Homeownership report for Q2 2021.
It is likely the results of this survey were significantly distorted by the pandemic.  
This report is frequently mentioned by analysts and the media to track household formation, the homeownership rate, and the homeowner and rental vacancy rates.  However, there are serious questions about the accuracy of this survey.
This survey might show the trend, but I wouldn t rely on the absolute numbers. Analysts probably shouldn t use the HVS to estimate the excess vacant supply or household formation, or rely on the homeownership rate, except as a guide to the trend. ....

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Calculated Risk


2my goals to stop daily posts,
37 day average for Cases, Hospitalized, and Deaths
4Cases and Deaths updated Mon - Fri
Increasing week-over-week
KUDOS to the residents of the 16 states and D.C. that have already achieved the 70% goal: Vermont, Hawaii and Massachusetts are at 80%+, and Connecticut, Maine, New Jersey,  Rhode Island, Pennsylvania, New Mexico, Maryland, California, Washington, New Hampshire, New York, Illinois, Virginia and D.C. are all over 70%.
Next up are Delaware at 69.8%, Minnesota at 69.7%, Colorado at 69.6%, Oregon at 69.4%, Wisconsin at 65.2%, Nebraska at 65.1%, and Florida at 64.3%.
Click on graph for larger image.
This graph shows the daily (columns) and 7 day average (line) of positive tests reported. ....

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