Ouch, here is 2008 to 2023 small multi-family inventory (2-4 units). It must have been so easy to be a real estate investor in the past. Now we have so much competition it crazy. 15 years ago there was 4x more inventory.
Home Supply at a low
To break down this chart. Each data point is a ma(12) meaning its a 12 month moving average. Basically less than 2 month supply for the last 1.5 years. In the past inventory usually plots up in May well see if that hold true in 2023.
Housing 2023: Looks like the builders aren't buy lumber this year
Estimates are for the low $300's per thousand feet in 12 months so it looks like the builders aren't buy lumber this year (2023). I guess they will be building in steal lol (jk)... Below is the 5 year chart. with prices down 70% since its May 2021 peak of around $1,700 during the pandemic.
source: tradingeconomics.com
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