August 2023 Erdmann Housing Tracker Update

I haven’t had much to say about the EHT updates the last couple of months. The California supply miracle that seemed to be emerging last autumn became more tentative when Zillow implemented a major revision to their price estimates in January. It remains tentative.

Otherwise, after the ups and downs of the Covid era, we seem to be on track for the boring recovery I’ve been preparing for. Not much to do but wait for the stock market to catch up with us on remaining homebuilder sentiment recovery.

But, this month, I took a deep dive into price and rent data, and I am very happy with how the model extracts a story from the data. I think subscribers will find this informative and interesting. There are novel insights from this data about what to expect from the housing market that you won’t see elsewhere, if I may be so bold.