New Listings in September Up Eight Percent YoY

Oct 03, 2018

Single-family homes and condos sold for a new record high median price of $270,000 in the third quarter

More than 465,000 new listings of homes for sale were posted in September, an eight percent year-over-year increase and the largest upturn in new listings since 2013, according to new data from Realtor.com. Despite this increase in listings, September’s inventory level was only 0.2 percent below the level from one year ago.

Single-family home inventory recorded a one percent annualized decline last month, while the condominiums and townhomes market saw its inventory up by three percent year-over-year. During September, 22 of the 45 largest markets saw year-over-year inventory increases. The combined inventory in the 45 largest markets totaled a 5.6 percent year-over-year on average, the largest yearly increase since Realtor.com began tracking this data in 2013.

"After years of record-breaking inventory declines, September's almost flat inventory signals a big change in the real estate market," said Danielle Hale, Chief Economist for Realtor.com. "Would-be buyers who had been waiting for a bigger selection of homes for sale may finally see more listings materialize. But don't expect the level to jump dramatically. Plenty of buyers in the market are scooping up homes as soon as they're listed, which will keep national increases relatively small for the time being."

About the author

Phil Hall

Link copied

Published

Oct 03, 2018

Analysis and Data

It's A Buyers' Market In Texas And Florida!!!

Redfin says sellers are cutting their asking prices in the two southern states.

Two states in particular are experiencing a ballooning supply of homes for sale this spring, paired with modest price cuts to entice buyers. A new report from Redfin indicates that housing supply is surging in Florida and Texas, and sellers are cutting their asking prices...

Analysis and Data

Pending Home Sales Climbed 3.4% In March

National Association of Realtors reports gains in Northeast, South and West, with a slight drop in the Midwest

Homes under contract are rising at a cautiously hopeful pace this spring. The National Association of Realtors’ Pending home Sales Index climbed 3.4% in March, increasing to 78.2. Year-over-year, pending transactions were up 0.1%. “March's Pending Home Sales Index – at...