In the past whipsaw pandemic year, the U.S. real-estate market went from essentially shut down to an unprecedented rally. Today, increased demand has dwarfed the supply of homes coming on the market in many areas. The result is a severe inventory shortage spanning much of the country.
For this year’s Real Estate Guide, The Wall Street Journal partnered with Realtor.com to analyze inventory in luxury real-estate markets across the country. ( News Corp , owner of The Wall Street Journal, also operates Realtor.com under license from the National Association of Realtors.) Our data looked at more than 1,000 ZIP Codes with a median listing price of $750,000 and up, and compared average monthly inventory levels from the beginning of 2017 through the end of 2019 with those from March 2020 to February 2021. The results show that the most dramatic inventory drops occurred in vacation destinations, such as Cape Cod and the Jersey Shore, and exurbs of major cities that were once too far away for commuters.
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