ResiClub emphasizes the importance of tracking active listings and months of supply to gauge home price momentum. Key indicators include:
• Rapid increases in active listings or prolonged market time, signaling pricing weakness
• Declines in active listings, suggesting a heating market
Recent data reveals:
• 26% fewer U.S. homes for sale in August 2024 compared to August 2019
• 36% increase in national active inventory from August 2023 to August 2024
Despite rising mortgage rates and affordability concerns, the lack of excessive unsold inventory has mitigated regional price corrections. However, the growing national inventory suggests:
• Softening regional housing markets
• Buyers gaining leverage in resale markets
• Shift towards buyer’s markets in some areas
In summary, monitoring active listings and inventory levels provides valuable insights into market trends, indicating that buyers now have increased negotiating power in many resale markets.
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