Redfin

Throughout the month of November, active listings fell 23% from 2020 and 42% from 2019.

The unseasonable surge in home prices appears to be drawing in more sellers.

Overall, the housing market experienced it’s typical seasonal cooling in October, but relief from homebuyers may be short-lived as pending home sales rose 3% from September.

Although it won’t be a buyer’s market anytime soon, Redfin analysts expect more selection, less frenzy, and slower price growth. 

Homebuyer demand outstrips supply as mortgage rates creep up; demand has grown 15 times faster than supply since 2019.

Housing market measures continue to show a typical seasonal cooling with fewer than half of homes selling above list price and new listings of homes for sale down 20% from their 2021 peak.