U.S. real estate listings rise at record pace as market cools

The recent real estate roller coaster is finally heading in a beneficial direction for buyers. After report on report On the nationa...

The recent real estate roller coaster is finally heading in a beneficial direction for buyers.

After report on report On the national housing shortage, the tide has finally turned: According to data from last month, active listing inventory across America has grown more than 30% since 2021 — a record growth rate.

This is according to Realtor.com July Housing Market Reportwhich further found that July marked the third consecutive month of unprecedented inventory growth rates.

“Nationally, the inventory of homes actively for sale on a typical day in July has increased 30.7% over the past year, the largest increase in inventory in history. data and higher than last month’s growth rate of 18.7%, which was itself a record.”, notes the July report. In terms of the number of listings, this means that potential buyers saw 176,000 homes more when researched last month than they would have had in 2021.

The increase in the number of available homes – the first of its kind since September 2019 – is a sign that the housing market “continues to move towards more balance”, with buyers now having more options available to them, analyzes The report.

“With increased inventory, buyers will have more bargaining power,” Realtor Chief Economist Danielle Hale told Bloomberg, adding that the benefits of the pandemic are now a thing of the past for owners. “The two years of a strong market tilt in favor of sellers appear to be in the rearview mirror.”

The record trend and breath of relief for buyers, however, coincides with median asking prices that remain breathtaking: In June, the nationwide median list price was $449,000, a 17% increase from 2021 and closest to the highest ever reached. , reported Bloomberg.

Rising mortgage rates have also had a significant impact and chilling effect on the market recently.

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Newsrust - US Top News: U.S. real estate listings rise at record pace as market cools
U.S. real estate listings rise at record pace as market cools
Newsrust - US Top News
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