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Latest Housing Trends & Insights for September 2022

August Housing Inventory

Selling Sentiment Wanes but the Inventory of Homes is Still Rising

Nationally, the inventory of homes actively for sale on a typical day in August increased by 26.6% over the past year. However, driven by a decline in seller sentiment, the inventory growth rate in August was lower than July’s historical growth rate of 30.7%, which was the largest increase in inventory in the data history.

Housing Market Trends August 2022

Time on Market Grows for the First time Since 2020

The typical home spent 42 days on the market this August which is five days more than last year and the first month that time on market increased since June 2020, during the early days of the pandemic.

Housing Market Trends 2022

Prices Fall for the First Time in a Decade

The typical U.S. home value now stands at $357,107 after declining by 0.1% ($366) month over month in July, as measured by the raw Zillow Home Value Index (ZHVI).

Rent Growth Continues to Moderate

The rental market remains in a period of relative calm, continuing a trend that’s formed in recent months. The nation’s typical monthly rent in July was $2,031, up 0.6% from June and up 13.7% from a year prior.

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