![]() ![]() However, the inventory of homes in large Northeastern metros declined by 6.0% on average compared to last year, while other regions saw growth in the number of homes for sale. metros overall increased by 37.2% over last year in September, outpacing the national growth rate. The inventory of homes actively for sale in the 50 largest U.S. The HPSI survey also revealed that the net share of Americans who believe home prices will go up over the next 12 months decreased by 6 percentage points in August compared to the previous month. Fannie Mae’s Home Purchase Sentiment Index (HPSI) revealed that the net share of respondents saying now is a good time to sell decreased by 16 percentage points compared to the previous month and by 30 percentage points compared to last year. In August, seller sentiment continued to decline. In September, newly listed homes declined by 9.8% compared to the same time last year, a lower rate of decline compared to last month’s 13.0% year-over-year decrease, but far shy of levels seen earlier this year. This moderating buyer demand has been spurred by rising interest rates and continuously growing home list prices that have increased the cost of financing 80% of the typical home by 70% compared to a year ago. This is a further deceleration from the 22.2% annual decline we reported for August. The inventory of pending listings on a typical day has declined by 23.7% compared to last September. The total inventory of homes for sale includes homes in pending status, which are those listings in various stages of the selling process that are not yet sold. Growth decelerated from last month’s 1.1% growth rate as the count of pending listings and newly listed homes fell further on a year-over-year basis. The total number of unsold homes nationwide-a metric that includes both active listings and listings in various stages of the selling process that are not yet sold-was up only 0.7% year-over-year. The number of homes actively for sale in September was 42.6% lower than the pre-pandemic 2017-2019 average. The growth rate of inventory remained stable compared to last month’s growth rate of 26.9%.ĭespite this improvement in the number of homes actively for sale, as the chart above clearly illustrates, active listings lag their pre-pandemic level and growth has stalled over the previous month. This amounted to 155,000 more homes actively for sale on a typical day in September compared to the previous year. Nationally, the inventory of homes actively for sale on a typical day in September increased by 26.9% over the past year. Home Listing Inventory Growth Stalls as Sellers Pause This year, the final week of September was the best time to buy a home, and while sellers are hitting pause, buyers still on the market can expect less competition and slightly lower prices this fall. However, homes are still selling more quickly than pre-pandemic days and price growth remains in the double-digits. ® ’s September housing data release reveals that the housing market is continuing to moderate, with homes selling less quickly than last year, home inventory growth stalling, and listing price growth slowing. ![]() Time on market was 50 days, 7 days more than last year but 18 days less than typical pre-pandemic levels.The median list price grew by 13.9% in September, a deceleration from recent highs.Sellers are less active than last year, as newly listed homes declined by 9.8% on a year-over-year basis.The total inventory of unsold homes, including pending listings, increased by just 0.7% year-over-year due to a decline in pending inventory (-23.7%).The national inventory of active listings increased by 26.9% over last year. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |