Rate Drop Leads To Third Consecutive Month Of Listing Gains

Key Takeaways:

– Active and new listings in the housing market have been increasing for the third consecutive month in January.
– The increase in listings has led to a decrease in the median days on market, indicating that buyers are ready to make offers.
– Several metropolitan areas, including Denver, Seattle, and Miami, experienced a significant boost in new listings, while others, such as Chicago and New Orleans, saw declines in homeseller activity.
– The boost in inventory has made the market more competitive, with homes selling faster in cities like Las Vegas and Phoenix.
– However, the increase in inventory has also led to higher purchasing costs, with the median listing price and the cost of financing a home both rising.
– The anticipated drop in mortgage rates could improve affordability in the future, but the impact may vary across different markets.


Active and new listings experienced single-digit increases for the third consecutive month in January, according to Realtor.com’s latest market report. The boost in listings also brought buyers out, leading to a four-day decrease in the median days on market.

Mark your calendars for the ultimate real estate experiences with Inman’s upcoming events! Dive into the future at Connect Miami, immerse in luxury at Luxury Connect, and converge with industry leaders at Inman Connect Las Vegas. Discover more and join the industry’s best at inman.com/events.

The housing market is finally heating up, according to a Realtor.com report released on Thursday.

Cooling mortgage rates have eased the lock-in effect amongst homesellers, leading to a 6.5 percent annual increase in overall listings (974,378). Active listings (665,569) and new listings (295,178) improved for the third consecutive month, with annual increases of 7.9 percent and 2.8 percent, respectively.

Danielle Hale

“We are seeing increases in inventory and, importantly, gains in newly listed homes for sale indicating sellers are more ready to make moves,” Realtor.com Chief Economist Danielle Hale said in a written statement. “Time on market fell, signaling that buyers are ready to make offers on these new options.”

More than half of the 50 largest metropolitan statistical areas (MSAs) in the U.S. experienced a boost in new listings during January. Denver (+21.3 percent), Seattle (+20.6 percent), Miami (+20.2 percent), San Diego (+18.8 percent) and San Francisco (+18.2 percent) had the biggest jump in newly listed homes.

Meanwhile, Chicago (-16.4 percent), New Orleans (-14.7 percent), Philadelphia (-12.9 percent), Buffalo (-12.6 percent) and Austin (-11.5 percent) had the most significant declines in homeseller activity.

Unsurprisingly, the boost in inventory has brought out the competitiveness of homebuyers. The typical home sold four days faster than in January 2023, with Las Vegas (-19 days), Phoenix (-14 days) and San Francisco (-13 days) seeing the biggest ramp-up in sales speed. Meanwhile, the median days on market slowed in Indianapolis (+6 days), New Orleans (+4 days), and Birmingham, Alabama (+3 days).

While January brought homebuyers more choice, it also brought higher purchasing costs.

The median listing price rose 1.4 percent year over year to $410,000, and the cost of financing a median-priced home with a 20 percent down payment increased 5.4 percent year over year or $108.

The median income required to purchase a median-priced home also increased, rising $4,300 to $84,000.

Hale said the anticipated drop in mortgage rates could improve affordability in the coming months; however, the impact won’t be felt in every market.

“While the drop in mortgage rates since last fall has helped boost buyer purchasing power, rates may not fall as quickly in the months ahead, and the anticipated improvement in affordability may be more uneven,” she said.

Email Marian McPherson

Source link

Property Chomp's Take:


element is a fundamental component of web development and plays a crucial role in structuring and organizing content on a webpage. In this article, we will explore the significance of the

element and how it contributes to creating an engaging and user-friendly website.

First and foremost, let's understand what the

element is. The term "div" stands for division, and as the name suggests, it is used to divide or section off different parts of a webpage. By using the

element, developers can create separate sections for header, footer, navigation menu, content, and more. This division helps in better organization and management of webpage components, making it easier for both developers and users to navigate and understand the content.

One of the primary advantages of using the

element is its versatility. Developers can style and customize each

section according to their preferences using CSS (Cascading Style Sheets). This flexibility allows for creative and visually appealing designs, enhancing the overall aesthetic appeal of the website. Additionally, by assigning unique IDs or classes to each

, developers can target specific sections for further customization or functionality.

Another significant advantage of the

element is its role in making a webpage responsive. With the increasing use of mobile devices, it is crucial for websites to adapt to different screen sizes and resolutions. By using

sections and applying responsive design techniques, developers can ensure that their websites look and function seamlessly across various devices. Whether it's a smartphone, tablet, or desktop computer, the

element helps in creating a consistent and user-friendly experience for all users.

Furthermore, the

element plays a vital role in optimizing a website for search engines. By structuring the content into relevant sections using

elements, search engines can better understand the hierarchy and importance of different parts of the webpage. This, in turn, improves the website's visibility and ranking in search engine results, leading to increased organic traffic and potential customers.

In conclusion, the

element is an essential component of web development, providing structure, organization, customization, responsiveness, and search engine optimization to a website. Its versatility and flexibility make it a go-to choice for developers looking to create engaging and user-friendly webpages. So, the next time you encounter a

element while browsing a website, remember its significance in shaping the online experience.

Leave a Reply

Your email address will not be published. Required fields are marked *