Housing Market: 45,000 fewer homes available amid inventory crunch

There were 45,000 fewer homes available to buy on a typical day in July compared to a year ago, according toDespite a month-over-month increase, active inventory fell 6.4% year over year, marking the first annual decline since April 2022. "The lack of newly listed homes has contributed to a renewed inventory crunch, as July saw fewer homes on the market compared to last year for the first time in several months," Realtor.com researchers Danielle Hale and Sabrina Speianu wrote.

At the same time, home sellers aren't participating in the market nearly as much as last year. Newly listed homes cratered 20.8% in July on a year-over-year basis.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Where Utah's housing prices stand amid market correctionUtah's housing prices are still down compared to last year, but they're tracking upward from winter when they appeared to hit bottom.
Source: KSLcom - 🏆 549. / 51 Read more »

What's next for the housing market: 5 themes to watch, Morgan StanleyMorgan Stanley: These are the 5 key themes shaping the housing market for years to come, and the 5 stock-market industries filled with opportunities and pitfalls investors need to watch for
Source: BusinessInsider - 🏆 729. / 51 Read more »

Bad real estate agents are costing homebuyers millions, making housing market worseInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »

China's housing market and economy risks 'Japanification': JPMorganChina has to stabilize its housing market and address risks to its economy if it wants to avoid 'Japanification', JPMorgan says
Source: BusinessInsider - 🏆 729. / 51 Read more »

Housing market to get even more unaffordable as home prices spikeThe housing market may be about to get even more unaffordable as home prices are set to spike 6% in 2023 and 7% in 2024, think tank says
Source: BusinessInsider - 🏆 729. / 51 Read more »

U.S. housing market is heating up this summer, despite high interest ratesU.S. housing market is heating up this summer — and some areas have ‘fierce competition’ among buyers. Here’s why.
Source: MarketWatch - 🏆 3. / 97 Read more »