The State of Housing Market Trends for September
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 …