The latest monthly report by Realtor.com, which tracks the housing market as of December, said that the number of home listings were growing and were also spending more time on the market.
The latest monthly report by Realtor.com, which tracks the housing market as of December, said that the number of home listings were growing and were also spending more time on the market. Home buyers continue to wait out the market downturn, with mortgage rates above 6%. Mortgage demand continues to be weak among buyers.Overall, listings climbed in December 2022 as compared to the previous year, providing more options for home shoppers, Realtor.com said.Raleigh, N.C. saw the biggest increase in active inventory, up 226.2% from last December. Nashville, Tenn. also experienced a 226% increase in inventory, followed by Austin, Texas, which had a 187% increase in listings.
“The typical home spent 67 days on the market, which is 11 days more than it did over the same period last year.”Prices have also begun to reflect the weakness in demand. According to Realtor.com, home price growth fell to single digits for the first time since December 2021.
Who would buy now with those interest rates
Completely out of touch and untrue. Not even close
No, no it’s not. Bottom hasn’t been reached. Remember real estate lags 6-9 months behind. So we got another 6 months of fallout, it’s coming.
When I look at the history of a house listing, I'm still consistently seeing houses being listed at $100,000+ higher than their last sale price, even if they just sold a few years ago. How is that normalized?