United States Housing Market

Home prices nationwide were up 2.9% year-over-year in August. At the same time, the number of homes sold fell 13.5% and the number of homes for sale fell 17.7%.

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Supply
Demand
Migration
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U.S. Housing Supply

Are there enough homes for sale to meet buyer demand?

In August 2023, there were 1,528,928 homes for sale in the United States, down 17.7% yearover year. The number of newly listed homes was 542,594 and down 12.3% year over year.The median days on the market was 31 days, up 4 year over year.The average months of supply is 2 months, down year over year. …

The direction and pace at which housing supply changes indicate whether the options for buyers are increasing or decreasing. Theycan also indicate whether homes are lingering on the market or being sold faster than sellers are listing them. There are currently 1,528,928 residential homes for sale in the United States.…

# of Homes for Sale

(All Home Types)

1,528,928

-17.7% YoY | Aug 2023

Based on Redfin calculations of home data from MLS and/or public records.

What does this mean?

The direction and pace at which housing supply changes indicate whether the options for buyers are increasing or decreasing. They can also indicate whether homes are lingering on the market or being sold faster than sellers are listing them. There are currently 1,528,928 residential homes for sale in the United States.

Location

Data

Aug 2023

Growth

% YoY

1,528,928

-17.7%

U.S. Migration Trends

Where are people moving to and from?

Nationwide, 26% of homebuyers searched to move to a different metro area between Jun '23 - Aug '23. The top 5 states homebuyers searched to move to were Florida, Texas, North Carolina, South Carolina, and Tennessee while California, New York, Massachusetts, Illinois, and District Of Columbia were the top 5 states homebuyers searched to move from.

Of all the major U.S. metros, Sacramento was the most searched for destination among homebuyers looking to relocate between Jun '23 - Aug '23. Next came Las Vegas, Orlando, Sarasota, and Tampa. San Francisco was the most searched for destination among homebuyers looking to leave, followed by New York, Los Angeles, Washington and Louisville.

Moving to

Moving from

Data Unavailable

Top 10 areas people are moving to

Inbound		Net inflow
Metros		Jun '23 - Aug '23
1	Sacramento, CA	5,100
2	Las Vegas, NV	5,000
3	Orlando, FL	4,300
4	Sarasota, FL	4,000
5	Tampa, FL	4,000
6	Myrtle Beach, SC	3,700
7	Cape Coral, FL	3,600
8	Dallas, TX	3,400
9	Portland, ME	3,300
10	Houston, TX	3,100

Top 10 areas people are moving from

Outbound		Net outflow
Metros		Jun '23 - Aug '23
1	San Francisco, CA	26,900
2	New York, NY	25,300
3	Los Angeles, CA	20,200
4	Washington, DC	14,500
5	Louisville, KY	6,000
6	Chicago, IL	5,000
7	Boston, MA	4,600
8	Hartford, CT	3,400
9	Detroit, MI	2,200
10	Denver, CO	2,100

Methodology

This data does not reflect actual moves. The latest migration analysis is based on a sample of about two million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.

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United States Housing Market

U.S. Housing Supply

U.S. Migration Trends

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