Summer is here, and housing inventory is finally growing! The spring housing inventory was like a zombie rising from the grave, very slow, but the summer is showing some promise and let’s hope it continues. Purchase apps had a small week-to-week gain. Mortgage rates were again in a small range, hanging near 7%.

Here’s a quick rundown of the last week:

• Active inventory grew 8,886 weekly. I am still hoping for some weeks that show inventory growth between 11,000-16,000
• Mortgage rates stayed in a tight range between 6.875%-6.95%
• Purchase application data showed a 2% growth week to week

Weekly housing inventory

The active details ⇒

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