Inundated with inventory

Throughout the US, the DFW area has four of the top twenty-six counties leading in inventory increases.

#8 Collin County

up from 692 listings (12/21) to 2,340 listings (12/22) or 238% increase

#14 Denton County

up from 720 listings (12/21) to 2,292 listings (12/22) or 218% increase

#16 Johnson County

up from 217 listings (12/21) to 680 listings (12/22) or 213% increase

#26 Ellis County

up from 290 listings (12/21) to 805 listings (12/22) or 178% increase

KB Homes recently reported their earnings within the last week. They have shown a significant increase in buyer contract cancellations. 68% compared to 13% a year ago.

Their CEO said that they are committed to reducing build times. He also stated that they will continue to push for temporary interest rate buy downs and rate locks to help produce sales. This is instead of lowering home prices until their inventory backlog is delivered.

Many other builders are seeing this same scenario play out as they are also beginning to announce Q4 earnings.

The latest CPI (inflation) data came in flat which is better than it going up but it still isn’t moving much.

These economic cycles are large and complex. In the end, what matters most is controlling what you can control and making the best decisions possible for you and your family.

As always, I am here to help when you need it. Have a great rest of your week!

-Josiah

Email: josiah@josiahbeam.com

Cell: 972-921-9622