NAR: Market Is Shifting Slowly In Buyers’ Favor
Chief Economist Lawrence Yun notes that supply and demand dynamics are nearing a balanced market condition
Chief Economist Lawrence Yun notes that supply and demand dynamics are nearing a balanced market condition
According to the June housing data, the number of homes actively for sale grew for an eighth straight month nationally
The median U.S. sale price is up nearly 5 percent year-over-year
The portion of housing supply that’s newly built is still roughly double pre-pandemic levels.
Nationally, an average of 37 percent of current and expected listings require significant repairs and updates
New inventory was also up 14.8 percent year-over-year, the largest annual gain since May 2021
In 2023, an additional 1.7 million households formed, resulting in a total of 17.2 million new households between 2012-2023
The new data point marks the largest jump in inventory in nearly three years
The highest share of any quarter on record is 34.5 percent in the first quarter of 2022
The Sunshine State led all others with a nearly 27 percent increase in year-over-year active listings
© 2023 California Listings, Inc.