AUSTIN, Texas — Active listing inventory across the U.S. saw a 30.7% increase over last year, according to July housing market data from Realtor.com.
The increase is "a record-high growth rate" and significantly larger than last month's 18.7% growth rate. The 30.7% increase means there were 176,000 more active listings on a typical July day than last year.
While the nation saw a 30.7% growth rate for active listings, the country's 50 largest metro areas topped that number with a 41% increase. In fact, 45 of the 50 areas saw an inventory increase compared to last year.
Included in that 45 is Austin with a positive increase of 154.5%, making it one of the metro areas with the most inventory growth.
Total unsold home inventory, which includes pending listings, underwent a year-over-year growth of 3.5% after not increasing since September 2019. A decrease in pending inventory was the reason for such a small increase.
Realtor.com went on to say that median list price underwent a 16.6% increase and that newly listed homes saw a decrease of 2.8% in July on a year-over-year basis. The decrease marked the end of "a three month streak of positive annual listing growth since April," Realtor.com reported.
Median days on market clocked in at 35 days compared to 37 days last year and 61 days pre-pandemic.
PEOPLE ARE ALSO READING: