- The number of homes actively for sale was notably higher compared with last year, growing by 36.7%, an eighth straight month of growth.
- The total number of unsold homes, including homes that are under contract, increased by 22.4% compared with last year.
- Home sellers were more active this June, with 6.3% more homes newly listed on the market compared with last year and an increase from May.
- The median price of homes for sale this June remained stable compared with last year, at $445,000, however, the median price per square foot grew by 3.4%, indicating that the inventory of smaller and more affordable homes has grown in share.
- Homes spent 45 days on the market, which is two days more than last year.
- The share of listings that were delisted – while slightly higher than last year – has not spiked this spring, and has recently declined to 5.7% at the end of 2024H1.
According to the Realtor.com庐 June housing data, the market stabilized as mortgage rates also stabilized in June due to better-than-expected CPI readings. While the median list price nationwide stayed the same as last year, homes continue to see a price increase on per square foot basis. The time a typical home spends on the market increased compared to last year, as the inventory of homes for sale continued to grow, but homes were still snapped up more quickly than pre-pandemic levels. Meanwhile, although sellers鈥攚ho are often buyers themselves鈥攎ay be a little more disgruntled this spring due to a slower market that is requiring more price-adjustment than sellers faced last spring, they are not delisting their homes at any higher rate than last year. Just 6.3% of listings were delisted in the middle of June and this rate has been relatively stable since February.
However, the total count of delistings has risen by 16.1% compared to the same time last year. How can the share of delistings remain relatively stable while the count grows so rapidly? The answer is that total inventory has also grown at about the same rate as delistings, so while a growing number of sellers have taken their homes off the market this spring, there has been a proportionally equal number of sellers who are keeping their homes on the market*.
The number of homes for sale improves but is still low compared with pre-pandemic levels
There were 36.7% more homes actively for sale on a typical day in June compared with the same time in 2023, marking the eighth consecutive month of annual inventory growth. This is also an acceleration from May, which was up 35% year-over-year. In the eight consecutive months of increasing inventory, the rate of growth in each subsequent month has increased. While inventory this June is much improved compared with the previous three years, it is still down 32.4% compared with typical 2017 to 2019 levels. This is a slight improvement from last month鈥檚 34.6% gap, as inventory continues to slowly grow toward normalcy.
In June, as in the previous four months, the growth in homes particularly priced in the $200,000 to $350,000 range outpaced all other price categories, as home inventory in this range grew by 50.0% compared with last year, surpassing even last month鈥檚 high 45.1% growth rate. This increase is again primarily fueled by a greater availability of smaller and more affordable homes in the South.
The total number of homes for sale, including homes that were under contract but not yet sold, increased by 22.4% compared with last year, growing on an annual basis for the seventh month in a row and eclipsing last month鈥檚 rate of 20.6%.
The number of homes under contract but not yet sold (pending listings) increased by 2.4% which is unchanged from last month鈥檚 rate of 2.4%. After reports of consumer price growth flattening in May, mortgage rates fell sharply in June on expectations that the Federal Reserve will cut rates at the end of the year. Back in April we predicted that the growth in pending listings would slow, and this materialized in both May but idled in June. However, with rates falling and inventory growing, it is possible that sales could accelerate slightly in June鈥檚 reported numbers, after they declined by 0.7% in May.
However, sellers continued to list their homes in higher numbers this June as newly listed homes were 6.3% above last year鈥檚 levels and higher than May鈥檚 figure of 5.9%. This marks the eighth month of increasing listing activity after a 17-month streak of decline. Two factors have made listings activity more sensitive to changes in mortgage rates. First, many sellers are themselves also homebuyers. Second, many potential sellers with a current mortgage have a rate well-below today鈥檚 market rate, with 87% of outstanding mortgage loans at a sub-6% rate. The decrease in mortgage rates seen in June likely contributed to an increased pace of growth in listing activity. We expect selling activity to continue to normalize as rates inch their way down over the next year.
Regional and Metro Area Inventory Trends
The South and West Are Closest to Bridging the Inventory Gap
In June, all four regions saw active inventory grow over the previous year. The South saw listings grow by 48.9%, while inventory grew by 35.8% in the West, 21.5% in the Midwest, and only 12.5% in the Northeast. Compared with the typical June from 2017 to 2019 before the COVID-19 Pandemic, the South saw the smallest gap in inventory, down 17.2% compared with pre-pandemic levels, while the gap was 22.8% in the West, and much larger in the Midwest and Northeast, at 48.6% and 57.1%, respectively.
The inventory of homes for sale increased in all of the largest 50 metros compared with last year. Metros that saw the most inventory growth included Tampa (+93.1%), Orlando (+81.5%), and Denver (+77.9%).
Despite higher inventory growth compared with last year, most metros still had a lower level of inventory when compared with pre-pandemic years. Among the 50 largest metro areas, eight metros saw higher levels of inventory in June compared with typical 2017 to 2019 levels. This is down from 11 metros last month. The top metros that saw inventory surpass pre-pandemic levels were predominantly in the South and West and included Austin (+41.2%), Memphis (24.9%), and San Antonio (+24.0%).
The South saw newly listed homes increase the most compared with last year
Compared with June 2023, newly listed home inventory increased the most in the West, by 9.8%, whereas new inventory grew by 7.6% in the South, 2.1% in the Northeast, and 0.7% in the Midwest. The gap in newly listed homes compared with pre-pandemic 2017 to 2019 levels was also the lowest in the South, where newly listed homes were 14.9% below pre-pandemic levels. In comparison, they were down 30.2% in the West, 29.5% in the Midwest, and 32.7% in the Northeast.听
In June, 41 of the 50 largest metros saw new listings increase over the previous year, up from 38 last month. However, two large metros saw more newly listed homes this June compared with the typical pace of new listings from June 2017 to 2019 before the pandemic: San Antonio (+8.9%) and Jacksonville (+11.2%). The metros that saw the largest growth in newly listed homes compared with last year included Seattle (+30.5%), San Jose (+26.5%), and San Antonio (+21.8%).听
Homes are spending more time on the market compared with last year, but less than pre-pandemic levels
The typical home spent 45 days on the market this June, which is two days more than the same time last year and one more day than last month. June marks the third month in a row where homes spent more time on the market compared with the previous year as inventory continues to grow and home sales remain sluggish. However, the time a typical home spends on the market is more than a week (8 days) less than the average June from 2017 to 2019.
Regional and metro area time on the market trends
In the South, where the growth in home inventory has been the largest, the typical home spent five more days on the market in June compared with last year, while out West homes are staying on the market three days longer. However, in the Midwest (-1 day) and Northeast (-4 days), homes are still spending less time on the market than last year.
While all regions are still seeing time on the market below pre-pandemic levels, in the West, homes are spending only one day less on the market compared with the typical June from 2017 to 2019. Time on the market was eight days less than pre-pandemic levels in the South, 10 days less in the Midwest, and 15 days less in the Northeast.
Meanwhile, time on the market decreased compared with last year in 26 of the 50 largest metro areas this June, down from 30 markets last month. It decreased the most in San Jose, Chicago, and Providence (-9 days). Time on the market increased compared with last year in 22 of the 50 largest metros, including Phoenix (+14 days), Tampa (+8 days), and Jacksonville (+7 days). Four predominantly Western markets saw homes spend more time on the market than typical 2017 to 2019 pre-pandemic timing: Austin (+6 days), Portland (+4 days), and Oklahoma City (+1 day).
The median list price remained stable compared with last June, but the price per square foot continues to rise
The national median list price continued to increase seasonally, to $445,000 in June compared with $440,000 in May, and the median list price remained stable compared with the same time last year, when it was also $445,000. However, when a change in the mix of inventory toward smaller homes is accounted for, the typical home listed this year has increased in asking price compared with last year. The median listing price per square foot increased by 3.4% in June compared with the same time last year. Moreover, the typical listed home price has grown by 39.1% compared with June 2019, while the price per square foot grew by 52.6%.
While the percentage of homes with price reductions increased from 14.1% in June of last year to 18.3% this year, the overall share of inventory is a little higher (+1.3pp) with the shares seen between June 2017 to June 2019.
Regional and metro area price trends
In June, listing prices fell on a year-over-year basis in the South (-1.8%), where competitive home inventory has grown the most, but prices continued to increase in the Northeast (+5.6%), Midwest (3%), and West (+1.4%) compared with the same time last year. Controlling for the mix of homes on the market by looking at price-per-square-foot, prices in all regions showed greater growth rates of 2.6% to 7.2%. Among large metros, the median list price in Cleveland (+14.7%), Philadelphia (+11.3%), and Rochester (+9.3%) saw the biggest increases.
Meanwhile, all 50 large metropolitan areas have seen sizable price growth compared with homes listed before the pandemic. Compared with June 2019, the price per square foot growth rate in the largest 50 metros ranged from 24.4% to 81.9%. The markets where sellers saw the greatest increase in price per square foot included the New York metro area (+81.9% vs June 2019), Boston (+67.7%), and Tampa (+67.7%). Markets which saw the lowest return included San Jose (+24.4%), Baltimore (+24.6%), and New Orleans (+25.5%).
The share of price reductions was up compared with last year in the South (+5.1 percentage points), West (+4.5 percentage points), Midwest (+2.6 percentage points), and Northeast (+2.1 percentage points). Forty-seven of the 50 largest metros saw the share of price reductions increase compared with last June, up from 46 in May. Tampa saw the greatest increase (+10.9 percentage points), followed by Jacksonville (+9.7 percentage points), and Denver (+9.7 percentage points).
June 2024 Regional Statistics
| Region | Active Listing Count YoY | New Listing Count YoY | Median Listing Price YoY | Median Listing Price Per SF YoY | Median Days on Market Y-Y (Days) | Price-Reduced Share Y-Y (Percentage Points) |
| Midwest | 21.5% | 0.7% | 3.0% | 4.3% | -1 | 2.6 pp |
| Northeast | 12.5% | 2.1% | 5.6% | 7.2% | -4 | 2.1 pp |
| South | 48.9% | 7.6% | -1.8% | 2.6% | 5 | 5.1 pp |
| West | 35.8% | 9.8% | 1.4% | 4.8% | 3 | 4.5 pp |
June 2024 Regional Statistics vs. Pre-Pandemic 2017鈥�19
| Region | Active Listing Count vs Pre-Pandemic | New Listing Count vs Pre-Pandemic | Median Listing Price vs Pre-Pandemic (June 2019 Only) | Median Listing Price Per SF vs Pre-Pandemic (June 2019 Only) | Median Days on Market vs Pre-Pandemic (Days) | Price-Reduced Share vs Pre-Pandemic (Percentage Points) |
| Midwest | -48.6% | -29.5% | 41.6% | 45.9% | -10 | -2.2 pp |
| Northeast | -57.1% | -32.7% | 54.1% | 65.0% | -15 | -5.9 pp |
| South | -17.2% | -14.9% | 35.1% | 53.2% | -8 | 4.2 pp |
| West | -22.8% | -29.5% | 38.7% | 48.9% | -1 | 2.4 pp |
June 2024 Housing Overview of the 50 Largest Metros听
| Metro Area | Median Listing Price | Median Listing Price YoY | Median Listing Price per Sq. Ft. YoY | Median Listing Price vs June 2019 | Median Listing Price per Sq. Ft. vs 2019 |
| Atlanta-Sandy Springs-Alpharetta, Ga. | $425,000 | -2.9% | 1.7% | 30.8% | 52.6% |
| Austin-Round Rock-Georgetown, Texas | $550,000 | -5.2% | -2.1% | 49.1% | 62.4% |
| Baltimore-Columbia-Towson, Md. | $369,900 | 1.3% | 0.8% | 8.8% | 24.6% |
| Birmingham-Hoover, Ala. | $301,900 | 0.7% | 1.3% | 13.1% | 26.5% |
| Boston-Cambridge-Newton, Mass.-N.H. | $879,000 | 1.4% | 5.9% | 46.5% | 67.7% |
| Buffalo-Cheektowaga, N.Y. | $299,900 | 8.0% | 7.2% | 34.9% | 46.6% |
| Charlotte-Concord-Gastonia, N.C.-S.C. | $441,170 | 0.0% | 3.5% | 23.1% | 56.5% |
| Chicago-Naperville-Elgin, Ill.-Ind.-Wis. | $399,900 | 4.5% | 5.8% | 19.4% | 32.4% |
| Cincinnati, Ohio-Ky.-Ind. | $379,900 | -2.6% | 3.9% | 33.3% | 51.3% |
| Cleveland-Elyria, Ohio | $285,000 | 14.7% | 14.4% | 35.8% | 32.4% |
| Columbus, Ohio | $400,000 | 0.1% | 5.0% | 23.3% | 53.5% |
| Dallas-Fort Worth-Arlington, Texas | $459,000 | -3.0% | 0.5% | 27.8% | 45.1% |
| Denver-Aurora-Lakewood, Colo. | $639,000 | -6.0% | 1.4% | 24.1% | 46.7% |
| Detroit-Warren-Dearborn, Mich. | $275,000 | 1.9% | 2.3% | 5.0% | 26.0% |
| Hartford-East Hartford-Middletown, Conn. | $449,900 | 3.6% | 12.5% | 47.6% | 64.5% |
| Houston-The Woodlands-Sugar Land, Texas | $372,900 | -1.4% | -0.1% | 15.5% | 38.3% |
| Indianapolis-Carmel-Anderson, Ind. | $352,495 | 0.7% | 3.9% | 25.9% | 56.4% |
| Jacksonville, Fla. | $424,000 | -3.4% | -0.4% | 36.2% | 54.1% |
| Kansas City, Mo.-Kan. | $429,000 | -5.2% | -2.2% | 32.0% | 47.9% |
| Las Vegas-Henderson-Paradise, Nev. | $484,988 | 6.6% | 7.6% | 49.3% | 56.2% |
| Los Angeles-Long Beach-Anaheim, Calif. | $1,249,000 | 6.8% | 6.5% | 51.4% | 55.1% |
| Louisville/Jefferson County, Ky.-Ind. | $342,952 | 5.5% | 2.1% | 19.5% | 41.4% |
| Memphis, Tenn.-Miss.-Ark. | $349,000 | 6.7% | 2.0% | 51.7% | 63.8% |
| Miami-Fort Lauderdale-Pompano Beach, Fla. | $535,000 | -11.5% | -8.4% | 33.8% | 47.9% |
| Milwaukee-Waukesha, Wis. | $400,000 | 5.3% | 5.3% | 42.9% | 43.0% |
| Minneapolis-St. Paul-Bloomington, Minn.-Wis. | $460,000 | 0.0% | 2.2% | 28.6% | 36.0% |
| Nashville-Davidson-Murfreesboro-Franklin, Tenn. | $575,000 | -2.7% | 3.9% | 52.1% | 66.7% |
| New Orleans-Metairie, La. | $335,000 | -2.9% | -2.5% | 15.5% | 25.5% |
| New York-Newark-Jersey City, N.Y.-N.J.-Pa. | $789,000 | 5.3% | 8.6% | 34.9% | 81.9% |
| Oklahoma City, Okla. | $335,000 | -4.3% | 0.3% | 30.9% | 44.7% |
| Orlando-Kissimmee-Sanford, Fla. | $445,000 | -3.1% | -0.1% | 39.1% | 55.1% |
| Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. | $395,000 | 11.3% | 9.0% | 36.3% | 54.8% |
| Phoenix-Mesa-Chandler, Ariz. | $539,900 | 0.0% | -0.2% | 42.1% | 55.3% |
| Pittsburgh, Pa. | $259,900 | 8.3% | 10.8% | 30.0% | 31.1% |
| Portland-Vancouver-Hillsboro, Ore.-Wash. | $625,000 | -2.3% | 2.0% | 30.5% | 41.5% |
| Providence-Warwick, R.I.-Mass. | $599,000 | 8.9% | 8.8% | 55.6% | 47.7% |
| Raleigh-Cary, N.C. | $470,000 | -1.9% | 3.3% | 25.0% | 52.7% |
| Richmond, Va. | $475,000 | 7.4% | 5.9% | 41.8% | 58.1% |
| Riverside-San Bernardino-Ontario, Calif. | $615,000 | 6.0% | 5.3% | 46.5% | 61.9% |
| Rochester, N.Y. | $299,900 | 9.3% | 10.4% | 30.4% | 39.7% |
| Sacramento-Roseville-Folsom, Calif. | $679,000 | 0.0% | 4.2% | 35.5% | 40.3% |
| San Antonio-New Braunfels, Texas | $349,000 | -5.0% | -2.2% | 18.3% | 39.3% |
| San Diego-Chula Vista-Carlsbad, Calif. | $1,048,944 | -4.0% | 5.5% | 45.7% | 64.2% |
| San Francisco-Oakland-Berkeley, Calif. | $998,000 | -13.2% | -6.3% | 4.0% | 28.5% |
| San Jose-Sunnyvale-Santa Clara, Calif. | $1,441,979 | -3.7% | -1.3% | 22.7% | 24.4% |
| Seattle-Tacoma-Bellevue, Wash. | $795,000 | -3.6% | 0.3% | 29.3% | 48.5% |
| St. Louis, Mo.-Ill. | $314,900 | 8.8% | 5.7% | 34.1% | 32.8% |
| Tampa-St. Petersburg-Clearwater, Fla. | $425,000 | -4.5% | -0.7% | 49.1% | 67.7% |
| Virginia Beach-Norfolk-Newport News, Va.-N.C. | $399,000 | 1.0% | 5.1% | 35.3% | 45.2% |
| Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va. | $632,004 | -1.9% | 6.5% | 30.3% | 59.8% |
| Metro Area | Active Listing Count YoY | New Listing Count YoY | Median Days on Market | Median Days on Market Y-Y (Days) | Price鈥� Reduced Share | Price-Reduced Share Y-Y (Percentage Points) |
| Atlanta-Sandy Springs-Alpharetta, Ga. | 58.6% | 13.5% | 38 | -1 | 22.5% | 9.0 pp |
| Austin-Round Rock-Georgetown, Texas | 31.8% | 1.5% | 50 | 6 | 31.0% | -2.6 pp |
| Baltimore-Columbia-Towson, Md. | 29.4% | 2.1% | 31 | -5 | 15.0% | 4.2 pp |
| Birmingham-Hoover, Ala. | 40.2% | 2.1% | 45 | 3 | 16.9% | 4.6 pp |
| Boston-Cambridge-Newton, Mass.-N.H. | 23.1% | 6.9% | 25 | 1 | 15.1% | 3.0 pp |
| Buffalo-Cheektowaga, N.Y. | 10.0% | 8.7% | 22 | -8 | 8.7% | 1.7 pp |
| Charlotte-Concord-Gastonia, N.C.-S.C. | 49.3% | 13.9% | 36 | -2 | 21.0% | 8.4 pp |
| Chicago-Naperville-Elgin, Ill.-Ind.-Wis. | 5.8% | 0.3% | 25 | -9 | 11.4% | 1.6 pp |
| Cincinnati, Ohio-Ky.-Ind. | 30.4% | 9.5% | 29 | -1 | 14.5% | 4.2 pp |
| Cleveland-Elyria, Ohio | 5.6% | 1.3% | 31 | -6 | 12.9% | 2.4 pp |
| Columbus, Ohio | 32.3% | 3.9% | 25 | 3 | 20.1% | 5.6 pp |
| Dallas-Fort Worth-Arlington, Texas | 52.3% | 10.4% | 40 | 4 | 28.1% | 7.4 pp |
| Denver-Aurora-Lakewood, Colo. | 77.9% | 7.6% | 30 | 2 | 29.8% | 9.7 pp |
| Detroit-Warren-Dearborn, Mich. | 10.3% | -2.7% | 31 | 1 | 11.8% | -2.4 pp |
| Hartford-East Hartford-Middletown, Conn. | 6.4% | -1.7% | 17 | -1 | 6.4% | 0.5 pp |
| Houston-The Woodlands-Sugar Land, Texas | 39.7% | 17.4% | 40 | 0 | 19.9% | 3.6 pp |
| Indianapolis-Carmel-Anderson, Ind. | 28.8% | -6.2% | 35 | -1 | 22.9% | 5.8 pp |
| Jacksonville, Fla. | 69.6% | 21.8% | 52 | 7 | 28.4% | 9.7 pp |
| Kansas City, Mo.-Kan. | 23.9% | 5.1% | 44 | -6 | 15.9% | 3.9 pp |
| Las Vegas-Henderson-Paradise, Nev. | -29.5% | 15.5% | 38 | -6 | 18.4% | 4.8 pp |
| Los Angeles-Long Beach-Anaheim, Calif. | 36.9% | 11.2% | 37 | -2 | 12.1% | 3.3 pp |
| Louisville/Jefferson County, Ky.-Ind. | 28.7% | 6.3% | 31 | 2 | 16.7% | 3.6 pp |
| Memphis, Tenn.-Miss.-Ark. | 53.3% | 8.7% | 49 | 6 | 22.7% | 6.5 pp |
| Miami-Fort Lauderdale-Pompano Beach, Fla. | 67.7% | 12.7% | 67 | 5 | 18.2% | 5.5 pp |
| Milwaukee-Waukesha, Wis. | 20.6% | -3.5% | 30 | 1 | 9.6% | 0.9 pp |
| Minneapolis-St. Paul-Bloomington, Minn.-Wis. | 21.8% | -6.3% | 28 | -4 | 13.7% | 2.4 pp |
| Nashville-Davidson-Murfreesboro-Franklin, Tenn. | 20.0% | 6.0% | 31 | -3 | 25.3% | 4.8 pp |
| New Orleans-Metairie, La. | 28.6% | -0.4% | 61 | 3 | 21.8% | 1.5 pp |
| New York-Newark-Jersey City, N.Y.-N.J.-Pa. | 3.1% | -1.5% | 45 | -5 | 8.6% | 0.4 pp |
| Oklahoma City, Okla. | 38.7% | 11.4% | 45 | 0 | 22.1% | 6.8 pp |
| Orlando-Kissimmee-Sanford, Fla. | 81.5% | 14.7% | 52 | 6 | 23.0% | 8.0 pp |
| Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. | 10.8% | 1.6% | 38 | -7 | 13.1% | 1.5 pp |
| Phoenix-Mesa-Chandler, Ariz. | 56.4% | 5.6% | 50 | 14 | 28.2% | 8.3 pp |
| Pittsburgh, Pa. | 14.1% | 4.8% | 44 | -3 | 16.2% | 1.9 pp |
| Portland-Vancouver-Hillsboro, Ore.-Wash. | 34.6% | -0.9% | 40 | 7 | 19.7% | 3.3 pp |
| Providence-Warwick, R.I.-Mass. | 22.9% | 9.3% | 23 | -9 | 9.5% | 3.1 pp |
| Raleigh-Cary, N.C. | 40.4% | 16.6% | 36 | -7 | 18.7% | 6.4 pp |
| Richmond, Va. | 39.5% | 5.7% | 36 | -2 | 11.3% | 4.2 pp |
| Riverside-San Bernardino-Ontario, Calif. | 43.9% | 10.4% | 45 | 1 | 16.2% | 4.3 pp |
| Rochester, N.Y. | 3.1% | -2.1% | 17 | 5 | 3.9% | -3.5 pp |
| Sacramento-Roseville-Folsom, Calif. | 45.9% | 8.7% | 33 | 1 | 18.9% | 6.6 pp |
| San Antonio-New Braunfels, Texas | 48.6% | 21.8% | 50 | 4 | 26.3% | 3.2 pp |
| San Diego-Chula Vista-Carlsbad, Calif. | 72.5% | 20.6% | 30 | -2 | 16.4% | 5.7 pp |
| San Francisco-Oakland-Berkeley, Calif. | 39.5% | 11.3% | 29 | -3 | 13.3% | 3.2 pp |
| San Jose-Sunnyvale-Santa Clara, Calif. | 53.5% | 26.5% | 20 | -9 | 9.4% | 1.4 pp |
| Seattle-Tacoma-Bellevue, Wash. | 61.9% | 30.5% | 24 | -5 | 15.6% | 3.1 pp |
| St. Louis, Mo.-Ill. | 20.6% | 0.7% | 37 | -2 | 13.6% | 3.5 pp |
| Tampa-St. Petersburg-Clearwater, Fla. | 93.1% | 18.1% | 53 | 8 | 29.8% | 10.9 pp |
| Virginia Beach-Norfolk-Newport News, Va.-N.C. | 27.9% | 1.3% | 31 | 2 | 18.1% | 6.4 pp |
| Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va. | 27.2% | 8.3% | 29 | -3 | 12.9% | 3.8 pp |
* Note: Some metrics for the Las Vegas, Phoenix, and Rochester metro areas are under review and unavailable.
Methodology
Realtor.com housing data as of June 2024. Listings include the active inventory of existing single-family homes and condos/townhomes/row homes/co-ops for the given level of geography on Realtor.com; new construction is excluded unless listed with an MLS that provides listing data to Realtor.com. Realtor.com data history goes back to July 2016. The 50 largest U.S. metropolitan areas as defined by the Office of Management and Budget (OMB-202003).
*Note that not all listing sources report sales of a home to Realtor.com, so in order to calculate an accurate estimate of delisted homes, we use a subset of counties where consistent sales of listings is reported. As such, our estimates of total inventory when calculating delistings will be different from our overall estimates of inventory. While different, the national trend in delisting activity should be more accurate than estimates based on a sample that includes sources that lack, or are inconsistent in, reporting sold listings.