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Monthly Market Update

A monthly update of housing market supply, demand, and prices.

Housing Supply Hits 6-Year High As New Listings Jump, Giving Buyers Bargaining Power

U.S. new listings hit their highest level since 2022 in August, driven by San Jose, Nashville and Seattle.  The total number of homes for sale hit their highest level since 2020.  On the demand side, sales were essentially flat month over month. The rise in supply combined with stalled demand gives the buyers who are […]

Housing Supply Hits 6-Year High As New Listings Jump, Giving Buyers Bargaining Power Read More »

Home Sales Drop to Lowest Level in Nearly 2 Years, With Texas and Seattle Driving Decline

Near-record home prices, elevated mortgage rates and economic instability drove down U.S. home sales in July. Homebuying demand fell most sharply in Texas and Seattle. In Seattle, high prices and tech sector layoffs are discouraging prospective buyers. Some places are bucking the national trend. Home sales are growing fastest in West Palm Beach and San

Home Sales Drop to Lowest Level in Nearly 2 Years, With Texas and Seattle Driving Decline Read More »

U.S. Home Prices Hit All-Time High, Driven in Part By Big Upticks in San Francisco and West Palm Beach

Prices rose 2.2% year over year in June to a record high, mainly because of growing demand. Existing U.S. home sales ticked up to a seasonally adjusted annual rate of 4.4 million, the highest level since 2022, and pending home sales reached their second-highest level since 2023.  Wealthy Bay Area and South Florida buyers helped

U.S. Home Prices Hit All-Time High, Driven in Part By Big Upticks in San Francisco and West Palm Beach Read More »

Rising Rates Stall Housing Market Momentum Just After Closed Home Sales Hit Highest Level Since 2022

Closed home sales jumped in May, reflecting April’s dipping mortgage rates and a strong labor market.  But pending home sales were flat, a real-time reflection of May’s rising mortgage rates and economic uncertainty, which dampened buyers’ appetites.  The Bay Area’s AI-fueled hot housing market contributed to the surge in closed sales, with double-digit sales upticks

Rising Rates Stall Housing Market Momentum Just After Closed Home Sales Hit Highest Level Since 2022 Read More »

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