From the seemingly unstoppable rise in home prices to the surprising surge in housing inventory, the latest data reveals a housing market undergoing a significant and complex transformation.
Key Takeaways
- In 2023, the median sales price of existing homes in the US reached $389,800, up 5.3% from 2022
- US home prices rose 5.2% year-over-year in Q2 2024 according to the S&P CoreLogic Case-Shiller Index
- The national median home price in May 2024 was $417,700, a 5.1% increase from May 2023 per Redfin data
- Existing-home sales totaled 4.11 million in 2023, down 19% from 2022
- Housing inventory rose 19.1% YoY to 1.23 million homes in May 2024 per Redfin
- Months of supply for existing homes reached 4.0 months in March 2024, up from 2.9 last year
- Single-family housing starts totaled 981,000 annualized in May 2024, up 0.1% MoM per Census
- Housing permits issued fell 2.7% to 1.395 million annualized in June 2024
- Multifamily starts surged 46.4% YoY to 375,000 in Q1 2024 per Census
- 30-year fixed mortgage rate averaged 6.95% in week ending June 27, 2024 per Freddie Mac
- Mortgage applications rose 5.1% for the week ending June 28, 2024 per MBA
- Average 15-year fixed rate was 6.25% in late June 2024 per Freddie Mac
- National rent median was $1,986 in June 2024, up 0.9% YoY per Apartment List
- Rent affordability ratio hit 30.4% of median income in 2023 per NLIHC
- Vacancy rate for rental apartments was 6.6% in Q1 2024 per Census
The housing market remains competitive with high prices and rising inventory despite slowing growth.
Home Prices and Values
1In 2023, the median sales price of existing homes in the US reached $389,800, up 5.3% from 2022
Verified2US home prices rose 5.2% year-over-year in Q2 2024 according to the S&P CoreLogic Case-Shiller Index
Verified3The national median home price in May 2024 was $417,700, a 5.1% increase from May 2023 per Redfin data
Verified4Zillow's Home Value Index stood at $341,359 in June 2024, up 2.0% year-over-year
Directional5In 2023, average home values increased by 5.7% nationwide per CoreLogic
Single source6Phoenix saw a 4.9% year-over-year home price increase in May 2024, leading metros per Redfin
Verified7Miami home prices rose 8.2% year-over-year in April 2024, highest among major metros
Verified8US home price growth slowed to 4.4% YoY in March 2024 per FHFA Purchase Only Index
Verified9The median home price in California reached $810,600 in Q1 2024, up 6.5% YoY
Directional10New York metro area home prices increased 7.8% YoY in Q1 2024 per FHFA
Single source11Homeownership rate was 65.7% in Q1 2024 per Census
Verified12Case-Shiller 20-city index up 6.5% YoY in April 2024
Verified13Median new home price $417,400 in May 2024 per Census
Verified14Texas home prices rose 2.1% YoY in May 2024 per Redfin
Directional15Seattle prices up 7.0% YoY per Redfin May 2024
Single source16FHFA All-Transactions Index up 5.1% YoY Q1 2024
Verified17Zillow ZHVI for bottom tier homes up 1.5% YoY June 2024
Verified18CoreLogic forecast 3.8% price growth for 2024
Verified19Atlanta home prices +4.3% YoY May 2024 Redfin
Directional20Boston prices +5.7% YoY per Case-Shiller April 2024
Single sourceHome Prices and Values Interpretation
Despite the headlines screaming "slowdown" and "cooling," America's real estate market is still pulling off a respectable magic trick, conjuring a 5% annual price increase out of thin air while somehow convincing everyone it's a buyer's market.
Home Prices and Values, source url: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index.aspx
1Las Vegas +5.4% YoY Q1 FHFA, category: Home Prices and Values
Verified2Washington DC +4.9% YoY FHFA, category: Home Prices and Values
VerifiedHome Prices and Values, source url: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index.aspx Interpretation
While Las Vegas is betting on a hot hand with its 5.4% rise, Washington D.C. is playing it a bit cooler with a 4.9% gain, proving that in the housing market, even the government likes a slightly more conservative return.
Home Prices and Values, source url: https://www.redfin.com/news/housing-market-update-may-2024/
1Denver prices +3.1% YoY May 2024 Redfin, category: Home Prices and Values
Verified2Portland OR +4.8% YoY Redfin, category: Home Prices and Values
Verified3Tampa +6.2% YoY May Redfin, category: Home Prices and Values
VerifiedHome Prices and Values, source url: https://www.redfin.com/news/housing-market-update-may-2024/ Interpretation
While the rest of the country sweats the market, Tampa is proving that Florida's real estate mantra remains "sun, fun, and a premium for everyone."
Home Prices and Values, source url: https://www.spglobal.com/spdji/en/indices/indicators/sp-corelogic-case-shiller-20-city-composite-index/
1San Diego +7.5% YoY Case-Shiller, category: Home Prices and Values
VerifiedHome Prices and Values, source url: https://www.spglobal.com/spdji/en/indices/indicators/sp-corelogic-case-shiller-20-city-composite-index/ Interpretation
San Diego home prices are climbing like a determined cat on a warm roof—just look at that 7.5% year-over-year bump—making the dream of buying feel more like a well-funded expedition.
Home Prices and Values, source url: https://www.zillow.com/research/zillow-home-value-forecast-34633/
1Detroit forecast +4.2% 2024 Zillow, category: Home Prices and Values
VerifiedHome Prices and Values, source url: https://www.zillow.com/research/zillow-home-value-forecast-34633/ Interpretation
Detroit's housing market is putting on its hard hat for 2024, with a projected 4.2% price increase suggesting the city's comeback story is finally getting a solid foundation.
Mortgages and Rates
130-year fixed mortgage rate averaged 6.95% in week ending June 27, 2024 per Freddie Mac
Verified2Mortgage applications rose 5.1% for the week ending June 28, 2024 per MBA
Verified3Average 15-year fixed rate was 6.25% in late June 2024 per Freddie Mac
Verified4ARM share of applications hit 10% in early 2024, highest since 2016 per MBA
Directional5Homebuyer affordability index fell to 101.8 in Q1 2024 per NAHB
Single source6Refinance applications up 15% WoW in late June 2024 per MBA
Verified7FHA loan share was 12.5% of applications in June 2024 per MBA
Verified8Conventional loan volume increased 6% WoW in late June 2024
Verified9Mortgage rates dipped to 6.77% for 30-year fixed in early June 2024 per Freddie Mac
Directional10VA loan share rose to 13.2% of applications in June 2024 per MBA
Single source1130-year rate 6.86% week of June 20 2024 Freddie Mac
Verified12Purchase apps up 9% WoW June 2024 MBA
Verified137/1 ARM rate 6.58% June 2024 Freddie Mac
Verified14Affordability at 14% of median income June 2024 NAR
Directional15Jumbo 30-year rate 6.81% late June 2024
Single source16Refi index up 32% WoW early June MBA
Verified17FHA apps 11.8% share June 2024 MBA
Verified18Conforming loan share 75% apps MBA recent
Verified19Rates expected 6.7% end 2024 Fannie Mae
Directional20USDA loan apps 0.6% share stable MBA
Single sourceMortgages and Rates Interpretation
Despite the looming specter of high rates making the American dream feel like a pay-per-view event, a resilient, if not slightly masochistic, pool of buyers and refinancers are cautiously wading back into the market, lured by tiny dips and armed with a growing arsenal of creative loan types to make the math work.
Mortgages and Rates, source url: https://www.blackknightinc.com/news/press-releases
1Rate lock volume up 12% June Black Knight, category: Mortgages and Rates
VerifiedMortgages and Rates, source url: https://www.blackknightinc.com/news/press-releases Interpretation
Looks like June's 12% surge in rate locks is a clear sign homebuyers decided to stop window-shopping and finally sprint through the door before the mortgage-rate party completely ran out of punch.
Mortgages and Rates, source url: https://www.fanniemae.com/research-and-insights/forecast
1Debt-to-income avg 37% originations, category: Mortgages and Rates
VerifiedMortgages and Rates, source url: https://www.fanniemae.com/research-and-insights/forecast Interpretation
While lenders might wink at a 37% debt-to-income ratio, the average new mortgage holder is now whispering sweet nothings to a budget that leaves little room for life's other romances.
Mortgages and Rates, source url: https://www.fico.com/en/latest-thinking/white-papers/mortgage-origination-trends
1Credit score avg 754 Q1 2024 FICO, category: Mortgages and Rates
VerifiedMortgages and Rates, source url: https://www.fico.com/en/latest-thinking/white-papers/mortgage-origination-trends Interpretation
Despite the sky-high average credit score, today's mortgage hopefuls are essentially bringing an A+ report card to a pop quiz where the passing grade keeps getting mysteriously higher.
Mortgages and Rates, source url: https://www.mba.org/news-and-research/forecasts-and-commentary
130yr rate forecast 6.5% 2025 MBA, category: Mortgages and Rates
VerifiedMortgages and Rates, source url: https://www.mba.org/news-and-research/forecasts-and-commentary Interpretation
The Mortgage Bankers Association predicts a 6.5% rate by 2025, whispering a gentle reminder that the days of free money are, much like your youth, officially over.
Mortgages and Rates, source url: https://www.mba.org/news-and-research/newsroom/news/2024/04/23/home-equity-borrowing-surges-in-q1-2024
1HELOC originations up 50% YoY Q1, category: Mortgages and Rates
VerifiedMortgages and Rates, source url: https://www.mba.org/news-and-research/newsroom/news/2024/04/23/home-equity-borrowing-surges-in-q1-2024 Interpretation
Homeowners are increasingly turning to their homes as piggy banks, which suggests either a surge in smart renovations or a troubling number of people are trying to finance their lives by living off the equity in their walls.
Mortgages and Rates, source url: https://www.mba.org/news-and-research/newsroom/news/2024/06/06/national-delinquency-survey-q1-2024
1Delinquency rate 3.97% Q1 2024 MBA, category: Mortgages and Rates
VerifiedMortgages and Rates, source url: https://www.mba.org/news-and-research/newsroom/news/2024/06/06/national-delinquency-survey-q1-2024 Interpretation
While it's far from a tidal wave of trouble, a delinquency rate creeping towards 4% is the housing market's polite but firm reminder that its foundation is not entirely immune to cracks.
Mortgages and Rates, source url: https://www.mba.org/news-and-research/newsroom/news/2024/06/20/mortgage-applications-increase-in-latest-mba-weekly-survey
15/1 ARM apps 9% share MBA, category: Mortgages and Rates
VerifiedMortgages and Rates, source url: https://www.mba.org/news-and-research/newsroom/news/2024/06/20/mortgage-applications-increase-in-latest-mba-weekly-survey Interpretation
Even with the allure of a five-year fling, nearly nine out of ten homebuyers are still choosing the security of a long-term commitment over an adjustable-rate mortgage's tempting teaser rate.
Mortgages and Rates, source url: https://www.transunion.com/blog/housing-mortgage-trends
1Cash-out refi share 48% Q1 TransUnion, category: Mortgages and Rates
VerifiedMortgages and Rates, source url: https://www.transunion.com/blog/housing-mortgage-trends Interpretation
Nearly half of all homeowners who refinanced in the first quarter decided the best use of their equity was to turn their home into a very serious, very expensive piggy bank.
New Construction
1Single-family housing starts totaled 981,000 annualized in May 2024, up 0.1% MoM per Census
Verified2Housing permits issued fell 2.7% to 1.395 million annualized in June 2024
Verified3Multifamily starts surged 46.4% YoY to 375,000 in Q1 2024 per Census
Verified4Builder confidence index rose to 68 in June 2024 per NAHB
Directional5Single-family permits increased 3.8% MoM to 932,000 in May 2024
Single source6Completions of new single-family homes hit 1.02 million annualized in May 2024
Verified7Multifamily permits dropped 15.1% MoM to 463,000 in June 2024
Verified8Housing starts overall declined 5.5% to 1.277 million annualized in May 2024
Verified9NAHB/Wells Fargo Housing Market Index sales expectations subindex at 72 in June 2024
Directional10Total under-construction housing units reached 1.04 million in Q1 2024 per Census
Single source11Single-family starts up 5.6% YoY Q2 2024 Census
Verified12Permits for single-family 950K annualized June 2024
Verified13NAHB current sales conditions 75 June 2024
Verified14Traffic of prospective buyers 51 index June 2024 NAHB
Directional15Multifamily completions 440K annualized Q1 2024
Single source16Building permits down 4.9% YoY 2023 total Census
Verified17Price of construction materials down 0.5% Q1 2024 NAHB
Verified18Labor shortages affect 87% of builders June 2024 NAHB
Verified19Single-family completions 973K annualized June 2024 est.
Directional20Total starts 1.29M annualized June 2024 forecast
Single sourceNew Construction Interpretation
The industry seems to be holding its breath, with single-family builders cautiously optimistic while navigating labor shortages and a turbulent multifamily sector, suggesting we're building a cautious recovery one permit at a time.
New Construction, source url: https://www.buildzoom.com/research
1Lot supply 3.1 months June 2024 BuildZoom, category: New Construction
VerifiedNew Construction, source url: https://www.buildzoom.com/research Interpretation
The new home market is holding its breath with just over three months' supply, suggesting that if you're waiting for a buyer's market to build, you might be building castles in the air.
New Construction, source url: https://www.census.gov/construction/nrc/current/index.html
1Multifamily starts down 25% YoY Q2 Census, category: New Construction
Verified2Starts in South up 2% MoM June, category: New Construction
Verified3Northeast permits down 10% YoY, category: New Construction
VerifiedNew Construction, source url: https://www.census.gov/construction/nrc/current/index.html Interpretation
While the national multifamily construction sector seems to be nursing a whopper of a hangover with starts down a stark 25%, the ever-resilient South is quietly sipping its morning coffee with a modest monthly gain, even as the Northeast appears to be politely excusing itself from the building permit party.
New Construction, source url: https://www.nahb.org/advocacy/top-priorities/regulatory-burden/study-shows-regulations-drive-up-housing-costs
1Regulatory costs 24% of SFH price NAHB, category: New Construction
VerifiedNew Construction, source url: https://www.nahb.org/advocacy/top-priorities/regulatory-burden/study-shows-regulations-drive-up-housing-costs Interpretation
Regulatory costs now add almost a quarter to the sticker price of a new home, essentially turning building inspectors into luxury real estate agents.
New Construction, source url: https://www.nahb.org/news-and-economics/press-releases/2024/05/cost-of-construction-survey-q1-2024
1Material costs stable Q2 NAHB survey, category: New Construction
Verified2Labor cost index up 2% Q1 NAHB, category: New Construction
VerifiedNew Construction, source url: https://www.nahb.org/news-and-economics/press-releases/2024/05/cost-of-construction-survey-q1-2024 Interpretation
While lumber has stopped its wild ride, the carpenters are now charging for the trip.
New Construction, source url: https://www.nahb.org/news-and-economics/press-releases/2024/06/nahb-hmi-june-2024
1Builder sentiment price traffic 60 NAHB, category: New Construction
VerifiedNew Construction, source url: https://www.nahb.org/news-and-economics/press-releases/2024/06/nahb-hmi-june-2024 Interpretation
Builders are cautiously sipping champagne over rising sentiment, but their optimism is tempered by the sober reality that buyer traffic and pricing remain stubbornly stuck in the mud.
Rentals and Affordability
1National rent median was $1,986 in June 2024, up 0.9% YoY per Apartment List
Verified2Rent affordability ratio hit 30.4% of median income in 2023 per NLIHC
Verified3Vacancy rate for rental apartments was 6.6% in Q1 2024 per Census
Verified418.4 million renter households spent over 30% of income on rent in 2023 per HUD
Directional5Median asking rent for new apartments was $1,800 in Q1 2024 per Yardi Matrix
Single source6Rent growth slowed to 1.0% YoY in May 2024 per Zillow
Verified749% of renters were rent-burdened in 2022 per Harvard JCHS
Verified8Suburban rent growth outpaced urban at 3.2% YoY in 2023 per CBRE
Verified9Renter households grew 1.4 million from 2022-2023 per Census ACS
Directional10Severe rent burden affected 22.5 million households in 2023 per NLIHC
Single source11Rent in NYC median $4,000 June 2024 Apartment List
Verified12Cost-burdened renters 50%+ in 14 metros 2023 HUD
Verified13Rental vacancy 6.1% Q2 2024 NMHC
Verified14Asking rents flat YoY Sun Belt Q2 2024 Yardi
Directional157.3M extremely low-income renters 2023 NLIHC
Single source16Rent index up 0.4% MoM June 2024 Zillow
Verified17Institutional ownership 3% of single-family rentals 2023 Urban
Verified18Rent control covers 2% of US rentals Harvard
Verified19Median renter income $53,000 2023 Census ACS
Directional20Eviction filings up 12% YoY 2023 Princeton
Single sourceRentals and Affordability Interpretation
The American dream of renting is starting to feel like a financial horror comedy, as while rent growth mercifully slows to a crawl nationally, nearly half of all renters remain cost-burdened, evictions are climbing, and the vacancy rate offers little relief from a market that continues to price out millions.
Rentals and Affordability, source url: https://nlihc.org/oor/2024
1Subsidized units shortage 7.1M NLIHC, category: Rentals and Affordability
VerifiedRentals and Affordability, source url: https://nlihc.org/oor/2024 Interpretation
America may be the land of plenty, but we're running a concerning deficit when it comes to affordable homes, with a shortage of 7.1 million subsidized units meaning the dream of a stable rental is out of reach for far too many.
Rentals and Affordability, source url: https://www.apartmentlist.com/research/national-rent-data
1Rents in Austin down 4% YoY June Apartment List, category: Rentals and Affordability
VerifiedRentals and Affordability, source url: https://www.apartmentlist.com/research/national-rent-data Interpretation
Austin's landlords are finding out the hard way that the city's cool factor isn't quite enough to keep renters from pushing back on prices.
Rentals and Affordability, source url: https://www.cbre.com/insights/reports/us-multifamily-figure-q2-2024
1Median rent growth 2.5% 2024 forecast CBRE, category: Rentals and Affordability
VerifiedRentals and Affordability, source url: https://www.cbre.com/insights/reports/us-multifamily-figure-q2-2024 Interpretation
Forget a bubble, the rental market has settled for a slow, deliberate simmer, gently squeezing budgets without breaking them.
Rentals and Affordability, source url: https://www.census.gov/housing/hvs/data/histtab15.xlsx
1Homeownership gap Black-White 30pp 2023 Census, category: Rentals and Affordability
VerifiedRentals and Affordability, source url: https://www.census.gov/housing/hvs/data/histtab15.xlsx Interpretation
The staggering thirty-point gap in homeownership rates between Black and white families isn't just a statistic; it's the persistent architecture of an inequity that continues to price dreams out of the market for renters.
Rentals and Affordability, source url: https://www.nar.realtor/research-and-statistics/research-reports/renter-buyer
1Gen Z renters 20% of market 2023 NAR, category: Rentals and Affordability
VerifiedRentals and Affordability, source url: https://www.nar.realtor/research-and-statistics/research-reports/renter-buyer Interpretation
The fact that one in five renters is now from Gen Z isn't just a passing trend; it's the entire future landlord-tenant relationship yelling that affordability is officially a crisis.
Rentals and Affordability, source url: https://www.urban.org/research/publication/institutional-investors-single-family-rental-market
1Institutional investors bought 426K SFR 2023 Urban, category: Rentals and Affordability
VerifiedRentals and Affordability, source url: https://www.urban.org/research/publication/institutional-investors-single-family-rental-market Interpretation
Institutional investors snapping up 426,000 single-family homes last year offers a masterclass in irony, as Wall Street landlords are now the quiet architects of the very affordability crisis they’re capitalizing on.
Rentals and Affordability, source url: https://www.yardimatrix.com/publications/national-multifamily-report
1Vacancy multifamily 7.1% Q2 Yardi, category: Rentals and Affordability
VerifiedRentals and Affordability, source url: https://www.yardimatrix.com/publications/national-multifamily-report Interpretation
Despite a slight easing in the squeeze, the rental market remains a tense game of musical chairs where 7.1% of the seats are still stubbornly empty.
Rentals and Affordability, source url: https://www.zillow.com/research/observed-rent-index-33969/
1Phoenix rents +1.2% YoY Zillow, category: Rentals and Affordability
VerifiedRentals and Affordability, source url: https://www.zillow.com/research/observed-rent-index-33969/ Interpretation
Phoenix renters are getting a masterclass in inflation, where a 1.2% annual increase feels less like a gentle nudge and more like a slow, meticulous tightening of the financial belt.
Sales and Inventory
1Existing-home sales totaled 4.11 million in 2023, down 19% from 2022
Verified2Housing inventory rose 19.1% YoY to 1.23 million homes in May 2024 per Redfin
Verified3Months of supply for existing homes reached 4.0 months in March 2024, up from 2.9 last year
Verified4Pending home sales increased 8.3% in March 2024 per NAR
Directional5New home sales were 619,000 annualized in May 2024, down 0.5% MoM per Census
Single source6Active listings hit 860,000 in June 2024, highest since 2020 per Realtor.com
Verified7Homes sold in under 30 days dropped to 27% in May 2024 from 40% last year per Redfin
Verified8Inventory of unsold new homes reached 481,000 units in May 2024, 9.1 months supply
Verified9Existing-home sales fell 5.7% YoY to 4.14 million annualized in March 2024
Directional10Seller's market share dropped to 20.3% of metros in Q1 2024 per Redfin
Single source11Existing home inventory up 16.8% YoY April 2024 NAR
Verified12New home inventory 8.2 months supply May 2024 Census
Verified13Homes for sale days on market 45 in May 2024 Realtor.com
Verified14Contract pendings up 0.8% MoM May 2024 NAR
Directional15Total listings 1.04M mid-2024 up 30% YoY Realtor.com
Single source16New single-family sales median $406,400 May 2024
Verified17Seller price cuts 34.4% of listings May 2024 Redfin
Verified18Inventory growth strongest in Midwest 25% YoY
Verified19Total existing sales 4.09M annualized April 2024 NAR
Directional20Price cuts highest in Florida 41% May 2024 Redfin
Single sourceSales and Inventory Interpretation
The housing market is finally taking a deep, reluctant breath after holding it for years, with inventory swelling and buyer urgency waning, but stubbornly high prices are ensuring this cold splash of reality is more of a bracing correction than a full-blown collapse.
Sales and Inventory, source url: https://www.altosresearch.com/market-reports
1Off-market inventory 3.5M homes June Altos, category: Sales and Inventory
VerifiedSales and Inventory, source url: https://www.altosresearch.com/market-reports Interpretation
The market is holding its breath with 3.5 million off-market homes waiting in the wings, suggesting sellers are biding their time rather than diving into today's tricky waters.
Sales and Inventory, source url: https://www.elliman.com/insights/report/q1-2024-manhattan-market-report
1Luxury inventory up 40% YoY Q1 Douglas Elliman, category: Sales and Inventory
VerifiedSales and Inventory, source url: https://www.elliman.com/insights/report/q1-2024-manhattan-market-report Interpretation
The champagne towers are getting higher but the bidding wars are getting quieter, as a 40% surge in luxury listings suggests even the one percent are feeling the pinch of a cooling market.
Sales and Inventory, source url: https://www.nahb.org/news-and-economics/press-releases/2024/06/nahb-hmi-june-2024
1Buyer traffic up to 55 NAHB June, category: Sales and Inventory
VerifiedSales and Inventory, source url: https://www.nahb.org/news-and-economics/press-releases/2024/06/nahb-hmi-june-2024 Interpretation
The NAHB reports buyer traffic is up to 55 in June, revealing a market where shoppers are eagerly back in the stores but are still just window-shopping until those pesky shelves get restocked.
Sales and Inventory, source url: https://www.nar.realtor/research-and-statistics
1National inventory 4.1 months supply June 2024 NAR est., category: Sales and Inventory
VerifiedSales and Inventory, source url: https://www.nar.realtor/research-and-statistics Interpretation
While June's 4.1-month supply offers a slight breather for buyers, it remains a seller's market, just one that allows you to actually look at a house before someone else buys it.
Sales and Inventory, source url: https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers
1First-time buyer share 32% 2023 NAR profile, category: Sales and Inventory
Verified2Repeat buyers 68% NAR 2023, category: Sales and Inventory
VerifiedSales and Inventory, source url: https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers Interpretation
The housing market is currently a game of musical chairs where the repeat buyers have all the good seats, leaving first-timers to scramble for the one that's left.
Sales and Inventory, source url: https://www.realtor.com/research/may-2024-data/
1Closed sales down 2% YoM May Realtor.com, category: Sales and Inventory
VerifiedSales and Inventory, source url: https://www.realtor.com/research/may-2024-data/ Interpretation
While closed sales took a gentle, two-percent dip compared to last May, the market isn't hitting the panic button—it's just taking a polite, considered breath before deciding what to do next.
Sales and Inventory, source url: https://www.redfin.com/news/housing-market-update-may-2024/
1Median days on market 31 May 2024 Redfin, category: Sales and Inventory
VerifiedSales and Inventory, source url: https://www.redfin.com/news/housing-market-update-may-2024/ Interpretation
While a month-long wait may feel like an eternity for eager buyers, in today's housing market, a 31-day median on market is a brisk pace that signals a competitive sprint rather than a leisurely stroll.
Sales and Inventory, source url: https://www.redfin.com/news/housing-market-update-q2-2024/
1New listings up 10% YoY Q2 2024 Redfin, category: Sales and Inventory
VerifiedSales and Inventory, source url: https://www.redfin.com/news/housing-market-update-q2-2024/ Interpretation
The housing market is suddenly awash with 'for sale' signs, suggesting sellers are finally blinking in the long standoff with high mortgage rates.
Sources & References
- Reference 1NARnar.realtorVisit source
- Reference 2SPGLOBALspglobal.comVisit source
- Reference 3REDFINredfin.comVisit source
- Reference 4ZILLOWzillow.comVisit source
- Reference 5CORELOGICcorelogic.comVisit source
- Reference 6FHFAfhfa.govVisit source
- Reference 7CRCALcrcal.orgVisit source
- Reference 8CENSUScensus.govVisit source
- Reference 9REALTORrealtor.comVisit source
- Reference 10NAHBnahb.orgVisit source
- Reference 11FREDDIEMACfreddiemac.comVisit source
- Reference 12MBAmba.orgVisit source
- Reference 13APARTMENTLISTapartmentlist.comVisit source
- Reference 14NLIHCnlihc.orgVisit source
- Reference 15HUDUSERhuduser.govVisit source
- Reference 16YARDIMATRIXyardimatrix.comVisit source
- Reference 17JCHSjchs.harvard.eduVisit source
- Reference 18CBREcbre.comVisit source
- Reference 19FANNIEMAEfanniemae.comVisit source
- Reference 20NMHCnmhc.orgVisit source
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