Housing Market More Active Despite Low Inventory

Homes selling faster amid stiff competition, potential inventory increase on the horizon

Homes are selling 50% faster than pre-pandemic norms due to low inventory levels and pent-up buyer demand.
Inventory levels are 36% lower than pre-pandemic levels, leading to stiff competition among buyers.
Nearly 30% of all listings sold above asking price in December 2023.
21% of homeowners are considering selling their homes in the next three years, potentially increasing housing inventory.
Despite recent increases, the number of homes on the market is still low relative to pre-pandemic levels.