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U.S. Homes Selling at Slowest Pace Since 2019

Appraisal Buzz

months in the previous year and the most since February 2019. Homes Selling at Slowest Pace Since 2019 first appeared on The MortgagePoint. Homes Selling at Slowest Pace Since 2019 appeared first on Appraisal Buzz. The average home was selling in 35 days at this point in 2022, during the pandemic-driven surge in home purchases.

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Inventory back to 2019 levels and what that means for 2025

Housing Wire

In fact, there are now more homes on the market than we counted at the beginning of 2019. Lets get to the details in this weeks data. Inventory There are now 768,000 single-family homes unsold on the market. Inventory is back to pre-pandemic levels.

Inventory 283
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A key home price metric has skyrocketed since 2019

Housing Wire

from May 2019 to May 2024. Among the 50 largest U.S. metro areas, Realtor.com found that homes in New York City , Boston and Nashville led the way with respective appreciation rates of 84.7%, 72.9% Conversely, the metros with the lowest per-square-foot returns were led by Detroit (23.2%), Baltimore (24.8%) and San Jose (26.3%).

Agents 521
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Eight states now have more unsold inventory than in 2019. Here’s why.

Housing Wire

But still, there are about 300,000 fewer homes on the market now than in August of 2019. So rather than comparing to last year, the closest we get to a “normal” market is to use 2019 as a baseline. And eight states have more unsold inventory than in 2019. Inventory is climbing but it’s still pretty restricted.

Inventory 482
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Florida has built 77,000 new homes in high-risk flood areas

Housing Wire

Since 2019, the state of Florida has built more than 77,000 new properties in areas with a high risk of flooding. Nationally, 290,000 new properties were built in high-risk flood areas from 2019 through 2023, almost one in five of the 1.6 million built in total in that period, the First Street analysis found.”

Insurance 497
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Housing affordability drops sharply for middle-class: NAR

Housing Wire

According to a new paper from the National Association of Realtors (NAR), the drop in affordability is present in all income brackets but its most stark among the middle class where the percentage of affordable listings has plummeted since 2019. of home listings in 2019, but that number has since cratered to 21.2%. Both are 27.6

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Skyrocketing home values driving higher property taxes

Housing Wire

since 2019, and theyve jumped 56.8% rise in median property taxes since 2019, followed by Georgia (51.5%), Florida (47.5%), Indiana (44.8%) and Alabama (44.4%). Delaware (7.4%), Idaho (3.7%) and Arizona (5.9%) have risen only modestly since 2019. jump since 2019. in neighboring Broward County. and 59.9%, respectively.