Nationally, the inventory of homes actively for sale on a typical day in November increased by 46.8% over the past year. This amounted to 240,000 more homes actively for sale on a typical day in November compared to the previous year. The growth rate of inventory increased compared to last month’s growth rate of 33.5%, when it had just surpassed 2020 levels, but inventory remains 38.1% below typical pre-pandemic 2017 to 2019 levels.
The typical home spent 56 days on the market this November which is 8 days more than last year. Slower inventory turnover is primarily fueling the growth in actively listed homes but homes still spent 18 fewer days on the market this November than typical 2017 to 2019 timing. Thirty-nine of the 50 largest metros saw time on market increase compared to the previous year.
Lack of affordable housing options is why renters continue to rent, while nearly a quarter say the market is too competitive.
Saving money, safety, and space are the most important factors for those planning to move in the near future.
“There is finally a light at the end of the tunnel for many Americans as they now earn more than the income needed to purchase a mid-priced home. With rates falling below 6.1%, many Americans earn annually about $5,000 more than the qualifying income.”
‘Light at the end of the tunnel’: Tumbling rates make it realistic to buy a decent home again, with many Americans now earning $5K a year more than needed
Violent swings in mortgage rates may be coming to an end, analysts say, with rates below 6% possible by the summer.
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“They need to be back for their work, they have to go back to their office, so we see that the big city centers are reviving as more people are going back,” said Nadia Evangelou, senior economist at the National Association of Realtors. http://ow.ly/iqbW50MLVrz via @NBCNews
Multi-generational buying is back near an all-time high at 14%, which is up from 11% in 2021.
All in the Family: Multi-Generational Home Buying
Multi-generational buying is back near an all-time high at 14%. This is up from 11% in the 2021 report.
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After a historically low moving rate in 2021, data indicates that even fewer Americans moved across the country in 2022.
Where People Moved in 2022
After a historically low moving rate in 2021, data indicates that even fewer Americans moved across the country in...
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In 2022, 15.6% of young adults aged 25 to 34 lived at home with family. In 2020, those figures grew to the highest share recorded since 1960, 17.8%.
Young Adults Moved Home, But Now are Moving Out
In 2022, 15.6% of young adults aged 25 to 34 lived at home with family. In 2020, the share of young adults ...
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“The warehouse market has been a shining star in the commercial sector. Warehouses have become especially popular...so cannabis cultivation owners are competing against other business owners who need warehouses to store goods,” - NAR's Matt Christopherson. http://ow.ly/20A650MJ2YE
This year the share of buyers that rented before buying remained the majority at 64%. But the share moving from a family member’s home shows a sizeable growth from 21% in 2021 to 27% in 2022.
Young Adults Moved Home, But Now are Moving Out
In 2022, 15.6% of young adults aged 25 to 34 lived at home with family. In 2020, the share of young adults ...
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More people moved to Florida than any other state in the country in 2022, according to a new report from the National Association of Realtors. via @Yahoo
These are the states Americans are moving to
Story at a glance More people moved to Florida than any other state in the country in 2022, according to a n...
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