Leave a Message

Thank you for your message. We will be in touch with you shortly.

Are Housing Inventory Levels On The Rise?

WRE News January 12, 2024

Buyer

Are Housing Inventory Levels On The Rise?

Nearly half of the nation’s 50 largest metro areas record year-over-year increases with their housing inventory levels last month, according to new data from Realtor.com.

During December, there was a 9.1% uptick in the number of more newly listed homes compared one year ago; compared to November, there was a 5.5% inventory increase. Out of the 23 metros with a greater inventory compared to one year earlier, the highest annual increases were seen in Memphis (28.5%), New Orleans (25.5%) and San Antonio (20.9%). Realtor.com noted that December marked the first time since last May when home shoppers were seeing a larger number of unsold homes on the market.

“Across the U.S. we’re seeing improvements in inventory levels, especially in the South, which experienced a 7.7% increase in active listings year-over-year,” said Danielle Hale, chief economist, Realtor.com. “While the uptick in December inventory levels is encouraging, it is important to note that two-thirds of outstanding mortgages in the U.S. have a rate under 4% and more than 90% have a rate less than 6%. We are optimistic that inventory levels are moving in a positive direction, but the number of homes on the market is still low relative to pre-pandemic levels. Some sellers are clearly motivated already, but other households may hold out for lower rates before selling or moving to new homes.”


We are Your GPS to Success Let’s Get Started

We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today

Follow Us On Instagram