Tag Archives: Inventory

As the total number of homes for sale declined 11% from a year earlier, a new report from Redfin revealed the typical U.S. home is now selling for an estimated $4,000 less than last year’s all-time high, while new listings fell nearly 30% from 2022.

With nearly 26% fewer homes newly listed for sale compared to last year, active inventory slowed for the fourth month in a row, according to the Realtor.com Monthly Housing Trends Report for June.

The median rent in the West remains 3% lower than a year ago and is projected to decline further, while rents in Midwest markets continue to see faster growth due to greater affordability, according to Realtor.com's May 2023 Rental Report.

NAR reports that existing-home sales recorded a slight gain of 0.2% to a seasonally adjusted annual rate of 4.3 million units.

During a period of the year where home sales traditionally increase moving into the peak summer season, April sales declined more than 7%.

Fannie Mae is still predicting recession conditions to occur this year due to a slow down in the economy, and a tightening of credit standards.

"A lack of new sellers and homes for sale continues to limit buyers' choices and home sales. Many home sellers are likely future buyers too, which may be why a majority of would-be sellers report feeling 'locked in' to their current home because of a low mortgage rate, especially younger homeowners," said Danielle Hale, Chief Economist for Realtor.com.

Single-family rent price growth dropped 5% in February, according to a new CoreLogic report, with new data showing that many renters are seeking more affordable areas.

According to a new report from the National Association of Realtors, home sales declined an overall 22% from a year ago, while the inventory of unsold existing homes rose 1% from February.

While many homebuyers remained on the sidelines, home sales and competition leveled off in February, as the median U.S. home sale price fell 1.2% in February, marking the first year-over-year decline since 2012.