Home buyers in the U.S. got a much-needed boost to start 2024, as both new AND active listings increased in January. That’s according to Realtor.com’s latest market update. Here are the key data points from last month:
- There was a 7.9% increase in active listings, YOY, the third straight month of annual inventory growth.
- There was a 2.8% increase in new listings
- The highest increases in new listings were in Denver (+21.3%), Seattle (+20.6%), and Miami (+20.2%)
- Homes spent a median of 69 days on the market, a four-day drop from last year and a 13-day drop from January 2019.
Looks like we’re all set to explode in Spring! Especially after the recent inflation and employment data which will surely prompt the Fed to decrease interest rates.