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

Late Pays Rising for Student, Auto Loans

More of those with strong credit records have gone delinquent

Delinquencies are building across two major food groups — student loans and automobile financing — the feed credit scores and are sure to impact the ability of would-be home buyers to obtain a mortgage. The Education Department hasn’t updated its official student loan rep...

Analysis and Data

Buyers Faced Bigger Down Payments in 2024

Buyers paid an average of 14.4% of the purchase price, up from 14.2% in 2023

Down payments reached record highs in 2024, both in dollar amounts and as a share of purchase price, according to a new report from Realtor.com. The typical down payment in Q4 was $30,250, slightly below Q3 but about $3,000 higher than a year earlier. "As inventory recove...