Tag Archives: Active inventory

Home prices were up 3% year-over-year, despite stunted demand due to a shortage of homes, as inventory nationwide posts its biggest slide in 18 months.

July marked the first month-over-month decline in home sales since earlier this year in April, a signal that may mark the peak has passed for the typically busy summer buying season.

The median U.S. home-sale price is up 3.2% year over year, the biggest increase since November, and mortgage rates remain elevated.

Realtor.com reports that after four months of slowing inventory growth, active listings declined annually in July for the first time in more than a year.

June is typically the biggest month for home sales, according to the latest RE/MAX National Housing Report, with month-over-month sales rising 5.4% from May. Meanwhile, the average close-to-list price ratio was 100%, meaning homes sold for their average asking price.

As reported by Realtor.com, home prices rose by 0.9% in May 2023, landing below numbers during pandemic and going further back to 2016.

Existing-home sales dropped 3.4% to a seasonally adjusted annual rate of 4.28 million units at a median price of $388,800.

Buyers in some locations have been met with better-than-expected inventory numbers as inventory has recovered nearly 70% year-over-year.

With mortgage rates recently declining, demand has shown early indications of increasing, according to Redfin’s most recent Homebuyer Demand Index.

Active listings surged 33.5% year-over-year to the highest level since 2020, while the median list price grew by 13.3% in October. New data from Realtor.com's October 2022 Monthly Housing Market Trends Report reveals how these numbers are shifting.