Are Property Listings on the Rise?

While we received good news regarding interest rates last month, December is still known as one of real estate's slowest months.

However, some improvements in market activity were noted, with more new listings and properties under contract.

• Last month, 110,572 new listings went on the market, and 183,184 properties went under contract. This represents a year-over-year increase of 5.0% and 7.0%, respectively.
  
  
• The increase in net new listings was driven by a 0.8% decrease in new listing volume that was offset by a larger, 9.5% decrease in removals than we saw in December 2022.
  
  
• The median days on market for homes are down a modest 5.6% from December 2022.

Cooling inflation and anticipated rate cuts will hopefully fuel additional momentum within the market. As always, I'm here to answer questions about home financing.

Source: themreport.com

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.