Effects of the COVID-19 pandemic still linger in many U.S. housing markets. A new monthly report from Realtor.com finds that housing inventory levels for most of the nation's 50 largest metros are still below that of pre-pandemic years. But in four cities, inventory was actually higher during March 2024 than was typical from 2017-2019.
San Antonio saw a marked surge in the number of homes for sale post-pandemic (27.1%), followed by Austin, Texas (18.1%), and then Dallas and Denver (4.6% each).
In fact, all four metros with housing levels higher than in pre-pandemic years rank in the top 20 markets for new construction. According to research from Ali Wolfe, chief economist at Zonda Homes, Dallas comes in at No. 1 with 42,513 annualized housing starts in 2023. Austin lands at No. 6 with 15,527 housing starts, followed by San Antonio at No. 7 with 14,800 housing starts, and Denver at No. 18 with 7,604 housing starts.
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