Home Prices Up, Listings Down
The latest weekly housing trends view at Realtor.com finds that home prices continue to rise while listings continue to decline (Realtor.com)
- Median listing prices grew at 12.9% year-over-year. This is the 26th consecutive week f double-digit price growth.
- New listings were down 29% compared to last year and total active inventory fell 47%
- Time on market was 10 days shorter than the same time as last year
Danielle Hale, Chief Economist at Realtor.com, said in a post, “Lower mortgage rates make monthly payments for higher priced homes more manageable, but finding a home that checks the right boxes amid limited supply and saving up for the larger down payment needed with higher home prices continue to be challenges,”