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Latest Housing Trends & Insights for August 2022

July 2022 Housing Trends

Inventory Continues to See Growth

Nationally, the inventory of homes actively for sale on a typical day in July increased by 30.7% over the past year, the largest increase in inventory in the data history and higher than last month’s growth rate of 18.7%. This amounted to 176,000 more homes actively for sale on a typical day in July compared to the previous year.

Days on Market

The typical home spent 35 days on the market this July which is just two days less than last year. Given that home sellers are slowing their pace of listing and pending listings are declining, we expect time on market to increase compared to last year in the coming weeks. 

mortgage trends June 2022

Housing Affordability Remains Low

The monthly mortgage payment on a typical U.S. home grew another 4.5% in June, and is now 62.3% higher than it was a year ago and 75.7% higher than in June 2019.

Rental Market Normalizing

Typical U.S. rents rose 0.8% from May and are now $2,007 per month, crossing the $2,000 threshold for the first time. Annual rent growth has eased steadily from a record-high 17.2% in February to 14.8% in June. Rents are up 24.6%, nearly $400 per month, since June 2019.

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