Monthly Market Update

Sluggish homebuying demand and a pileup of inventory are deterring prospective home sellers, some of whom are opting to rent their homes out instead of sell. Existing-home sales hit a nine-month low as record-high home prices dissuaded buyers. Home sales, prices and listings are holding up relatively well in the Rust Belt, which has attracted […]

Home prices, while at a record high for this time of year, are growing at the slowest clip since 2023 because sellers outnumber buyers. Active listings hit a 5-year high in May, while existing-home sales hit a 7-month low. It took 38 days for the typical home to go under contract—the slowest May pace since

Sales of existing homes dropped to a seasonally adjusted annual rate of 4,196,707 in April, and pending sales fell the most since 2023. The supply of homes for sale hit a five-year high, putting downward pressure on prices, which grew at the slowest pace in nearly two years. Still, high homebuying costs spooked buyers, as

The typical home that went under contract in March sat on the market for 47 days. Homes sold over twice that fast during the pandemic homebuying frenzy. Homes are taking longer to sell because many are overpriced and demand is sluggish. Plus, sellers are competing with each other—the supply of homes for sale hit a