Lack of Available Homes for Sale Push U.S. Median Listing Price 15.2% Higher Y-O-Y
Market Video Report - By Ritz Herald
Nationally, the median list price grew to $380K in April, the latest all-time high seen since 2012 according to Realtor.com.
New listings increased 5.4% YoY, although more sellers are entering the market, there were 522K fewer homes activity for sale in May YoY.
However, with <50% of the total number of homes for sale compared to last year, homes are selling 32 days faster YoY and 18 days faster than 2017-2019.
Although the tenth consecutive month of double-digit price increases, the pace of growth decreased 15.2% in May, lower than the 17.2% YoY increase reported in April.
Active listing prices in the nation’s largest metros averaged 7.4% higher in May YoY, with Austin, TX 32.2%, Riverside, CA, 21.5%, and Las Vegas 18.5%.
Nationally, the total inventory of unsold homes (including pending listings) decreased 20.8% YoY, while active listings decreased 50.9% YoY.
