Housing inventory, which typically declines in October, surprisingly increased by 5.1% last month, offering a glimmer of hope in a tight housing market.
Housing inventory, which typically declines in October, surprisingly increased by 5.1% last month, offering a glimmer of hope in a tight housing market.
Image Credits: Unsplash
Image Credits: Unsplash
Despite the increase, active inventory remains 41.8% below pre-pandemic levels (2017-19), indicating the ongoing challenges in the housing market.
Despite the increase, active inventory remains 41.8% below pre-pandemic levels (2017-19), indicating the ongoing challenges in the housing market.
Image Credits: Unsplash
Image Credits: Unsplash
Homes spent an average of 50 days on the market in October, one day less than in 2022 and 16 days less than the average from 2017-19, reflecting increased demand.
Homes spent an average of 50 days on the market in October, one day less than in 2022 and 16 days less than the average from 2017-19, reflecting increased demand.
Image Credits: Unsplash
Image Credits: Unsplash
Record-high mortgage rates are affecting buyers, but some are rushing to lock in rates before they rise further.
Record-high mortgage rates are affecting buyers, but some are rushing to lock in rates before they rise further.
Image Credits: Unsplash
Image Credits: Unsplash
The median list price dropped from $430,000 to $425,000 in October, offering a potential relief for buyers.
The median list price dropped from $430,000 to $425,000 in October, offering a potential relief for buyers.
Image Credits: Unsplash
Image Credits: Unsplash
Despite the decrease, the median listing price remains stable, suggesting that home prices are not experiencing significant declines.
Despite the decrease, the median listing price remains stable, suggesting that home prices are not experiencing significant declines.
Image Credits: Unsplash
Image Credits: Unsplash
Experts are keeping an eye on the rising share of listings with reduced prices to gauge the market's future direction.
Experts are keeping an eye on the rising share of listings with reduced prices to gauge the market's future direction.