Description
It’s a breath of fresh air to see that the number of homes for sale is heading back “up” toward normal. We’ve heard for so long about a tight inventory that’s making homes more expensive and harder to find. But a new Realtor.com report is showing a sharp rise in for sale listings that some real estate experts are calling an “incredible trend.”
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Now back to Realtor.com’s Monthly Housing Market Trends Report for the month of May. The report shows the total number of active listings as more than 35% higher than a year ago in May. That’s after seven months of growth that includes a 6.2% bump for the month of May and, before that, a 12.2% bump for the month of April.
Other data from the report shows that the median price of a home has remained stable with just .3% of growth for the year and a median price of $442,500. But there has been a 3.8% increase in the price per square foot. That points to a larger number of smaller, more affordable homes that are being listed with a higher price per square foot...
Links:
1 - https://www.realtor.com/research/may-2024-data/
2 - https://www.realtor.com/news/trends/housing-inventory-returning-to-normal-may-2024-economists-say/
In this Real Estate News Brief for the week ending November 23rd, 2024… why home buyers are suddenly jumping back in, what the data shows about single-family built-to-rent homes, and what renters are doing to make sure they can pay their rent each month.
Hi, I'm Rich Fettke, filling in for...
Published 11/27/24
The combination of high mortgage rates and record high home prices has priced out millions of Americans from buying a home or investment property. On today’s real estate news show, we’ll dive into CoreLogic's recent Home Equity Insights Report for the 2nd quarter of 2024 to determine if it still...
Published 11/22/24