According to the latest Housing Trends Report published by Realtor.com, nationwide homebuyers are finding more options amid listed prices with prices that are still high.
The US housing market is offering homebuyers more choice this fall than it did in 2021, as inventory increased by 26.9% year over year in September.
Although the annual growth of prices price remained in double digits in September (+13.9%), the pace continued to moderate , suggesting there could be an increase in relatively affordable homes for sale to buyers in the last few months of 2022.
“House prices have been remarkably resilient so far this year, considering the impact that inflation and rising rates are taking into buyers’ budgets. Recent data shows some slowdown in listing prices and a seasonal pullback that is typical for this time of year. On the other hand, this cooling is probably one of the reasons fewer sellers entered the market in September,” said Danielle Hale, chief economist at Realtor.com.
“For homeowners If you decide to move this year, remember that listed prices, while lower than a few months ago, are still higher than in previous years, so you will likely still find opportunities to collect at record levels, especially if you have owned your home for a longer period of time. And for prospective buyers struggling with affordability, you may have more bargaining power than you realize, especially in areas where time to market is increasing,” Hale added.
Housing metrics for September
Metric: Median listing price
Change in September of 2021: 13.9% (to $427,13)
Change from September 2019: 40.7%
Metric: Active Listings
Change in September 2021: 26.9%
Change compared to September 2019: -40.two%
Metric: Average days on the market
Change in September 2021: 7 days (a 50 days)
Change compared to September 2019: -16 days
Relator.com notes that home price growth continues to moderate, but remains in double digits: “In September, national home listing prices increased at a faster pace in September than in any previous year in the story of our data, despite continuing to moderate from the peak growth rate in June”.
The real estate site explains that fueled by the combination of still-high listing prices and rising mortgage rates, the typical monthly mortgage payment was a 70% higher in September compared to a year ago: “As a result of these cost pressures, recent home sales data indicates that some buyers Homeowners are putting plans on hold, giving those who remained in the market more power to negotiate price reductions. prices in September”.
The average listing price in the US was $449,000 dollars, one 13.9% more than the previous year. However, listed prices declined from the June median high ($449.000) and the annual growth rate (+18,2%).
You may also be interested in:
– The 25 America’s Best Family Cities, According to Fortune
– The average monthly rent in the US is shoots to a record $2,031 per month
– Americans spent in August the 26% of their income in housing rental, says Rapporteur
Metric: Median listing price
Change in September of 2021: 13.9% (to $427,13)
Change from September 2019: 40.7%
Metric: Active Listings
Change in September 2021: 26.9%
Change compared to September 2019: -40.two%
Metric: Average days on the market
Change in September 2021: 7 days (a 50 days)
Change compared to September 2019: -16 days
Relator.com notes that home price growth continues to moderate, but remains in double digits: “In September, national home listing prices increased at a faster pace in September than in any previous year in the story of our data, despite continuing to moderate from the peak growth rate in June”.
The real estate site explains that fueled by the combination of still-high listing prices and rising mortgage rates, the typical monthly mortgage payment was a 70% higher in September compared to a year ago: “As a result of these cost pressures, recent home sales data indicates that some buyers Homeowners are putting plans on hold, giving those who remained in the market more power to negotiate price reductions. prices in September”.
The average listing price in the US was $449,000 dollars, one 13.9% more than the previous year. However, listed prices declined from the June median high ($449.000) and the annual growth rate (+18,2%).
You may also be interested in:
– The 25 America’s Best Family Cities, According to Fortune
– The average monthly rent in the US is shoots to a record $2,031 per month
– Americans spent in August the 26% of their income in housing rental, says Rapporteur