Realtor.com breaks down last month’s performance of residential real estate by analyzing inventory, active listings, new listings, days on the market, median listing price, and the share of homes that had their prices reduced.
The September housing data release reveals that homes are still selling at a brisk pace and listing prices continue to grow steadily over the previous year. Active listing inventory is historically low but the gap compared to last year continues to shrink. In September, weather-related interruptions in many markets contributed to an overall decline in newly listed homes compared to the previous year. This is the first annual decline in newly listed homes in five months.
The national inventory of active listings declined by 22.2% over last year, while the total inventory of unsold homes, including pending listings, declined by 12.6%. The inventory of active listings is down 52.5% compared to 2019.
* Newly listed homes are down 3.9% nationally compared to a year ago, and down 3.4% for large metros over the past year. Sellers are still listing at rates 12.6% lower than typical 2017 to 2019 levels.
* The September national median listing price for active listings was $380,000, up 8.6% compared to last year and up 20.6% compared to 2019. In large metros, median listing prices grew by 4.1% compared to last year, on average.
* Nationally, the typical home spent 43 days on the market in September, down 11 days from the same time last year and down 23 days from 2019.
For a breakdown of statistics by region and by the top 50 metro markets …
Advertisement
Related Stories
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable
Market Data + Trends
10 States Where Home Insurance Rates Have Risen the Most
Responding to the increasing number of natural disasters, insurers are hiking prices, with some states bearing the brunt more than others