New listings of homes for sale were down 11% from a year ear
Report from Redfin.
Active listings (the number of homes listed for sale at any point during the period) fell 28% year over year, dropping to an all-time low of 461,000.
29% of homes that went under contract had an accepted offer within one week of hitting the market,
But I expect that by the time mortgage rates increase to 3.6%, competition will settle down quickly to levels similar to late-2018.”
If Redfin is correct, then 2023 should be a good year for UI.
https://www.redfin.com/news/housing-market-update-new-high-home-price-January/