Home Listings Are Up More Than 60% in Some Cities: Here’s Where

The housing market is seeing a surge in supply, with active listings up 36% year-over-year in many regions. In some cities, that number is soaring above 60%. This increase in home supply is giving buyers more options, but the picture isn’t entirely rosy.

Despite the rise in active listings, new homes hitting the market are fewer, as many sellers are holding back. This hesitation is linked to rising mortgage rates and uncertainty around market conditions. The homes that do make it to market are sitting longer, and price cuts are becoming more common as sellers try to attract buyers.

With both buyers and sellers waiting for the next market shift, the pace of sales has slowed, putting downward pressure on home prices in certain areas. The growing inventory is good news for buyers, but for sellers, the changing landscape means adjusting strategies and expectations.

Curious about how these trends are playing out in your city? Keep an eye on places like Phoenix, Salt Lake City, and Austin—these areas are seeing the most significant jumps in listings and price adjustments, creating new opportunities in today’s real estate market.

Courtesy of CNBC