flexiblefullpage - default
Currently Reading

Rising Real Estate Listings Signal Strong Post-Pandemic Recovery for the Housing Market

Market Data + Trends

Rising Real Estate Listings Signal Strong Post-Pandemic Recovery for the Housing Market

As demand softens, a resurgence of home listings sets the stage for the housing market's post-pandemic rebalancing 


June 30, 2022
For sale by owner sign outside of residential property
Image: Stock.adobe.com

Real estate listings rose 18.7% year-over-year in June, the fastest growth rate recorded since July 2017, Realtor.com reports. The current level of growth amounts to an additional 98,000 homes for sale every day compared to a year ago, but levels of supply are still only half of what they were three years ago in June 2019.

Still, after years of a grueling supply deficit triggering fierce competition and record price growth, an upswing in inventory offers a glimmer of hope for buyers long deterred from home purchases due to affordability concerns. Going forward, home shoppers will have more leverage when negotiating list prices, and sellers are also expected to lower their asking rates in response to surging mortgage rates.

“The increase in the number of homes for sale in June is due to a couple of key factors: Namely, sellers are putting more homes up for sale than last year. In fact, we’re back to about as many sellers as we saw in a typical pre-pandemic market,” explains Realtor.com Chief Economist Danielle Hale.

“At the same time, buyers have grown pickier as home prices and, more importantly, their monthly payment costs skyrocketed as mortgage rates surge,” says Hale. “We’re getting more supply of homes for sale just as demand is reaching a breaking point for many buyers, and this has led to a rapid rebalancing or reset of the housing market.”

Read more

Related Stories

New-Home Sales

The Housing Market Is Rebalancing, and Those Who Can Still Afford Homes Are Poised to Benefit

List prices are beginning to fall as active inventory spends more time on the market, meaning that those still searching for homes are finding more options and less competition

Financing

Mortgage Application Activity Drops to Lowest Level in Over Two Decades

As housing costs continue to surge and prospective buyers back out of home purchases, fears of a recession are mounting, and mortgage application activity is falling as a result

Manufacturers + Suppliers

These Two Trade Hurdles Could Prolong an International Supply Chain Storm

From stalled manufacturing in China to failed labor negotiations in the United Kingdom, supply chain obstacles are mounting across the globe

Advertisement
boombox1 -
Advertisement
native1 - default

More in Category




Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.