Press release
Realtor.com® September Housing Report: Inventory Just Hit a 2021 High, Which Means More Choices for Fall Buyers
U.S. inventory declines continued to shrink (-22.2% year-over-year) despite a dip in new listings in September SANTA CLARA, Calif., Sept. 30, 2021
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[{"type":"text","content":"U.S. inventory declines continued to shrink (-22.2% year-over-year) despite a dip in new listings in September\n\n\nSANTA CLARA, Calif., Sept. 30, 2021 /PRNewswire/ -- New housing data shows inventory hit a 2021 high in September, giving buyers more choices than they have had all year, according to the Realtor.com® Monthly Housing Report released today. Nearly one-third of the 50 largest metros continued to see increases in newly-listed homes compared to last year and in Austin, Texas; Portland, Ore.; Jacksonville, Fla.; and Washington, D.C., new listings were up more than 10% year-over-year. \n\"Put simply, this September buyers had more options than they've had all year and while that's typical of early fall, that's not what happened in 2020. Still, it's important to remember that while buyers may have an easier time this fall than they did in the spring, the market remains more competitive than it has been historically at this time of year,\" said Realtor.com® Chief Economist Danielle Hale. \"There are fewer homes for sale than last year and less than half as many as two years ago; homes are also selling a lot faster. With new listings in September dipping below last year for the first time in 5 months, next month's data will yield important clues about whether this setback is going to be temporary or a new trend.\" \nInventory holds steady despite the first new-listings dip in 5 monthsThe U.S. supply of for-sale homes reached a new 2021 high in September, as buyers continued to see steady improvement in the number of active listings compared to earlier this year, the typical seasonal pattern that was notably missing in 2020. The pace at which inventory has been closing-in on the yearly gap slipped in September. \nNationally, available inventory – or active listings on Realtor.com® without a contract – reached a new 2021 high of 646,053 for-sale homes in September. U.S. housing inventory declined 22.2% year-over-year in September, an improvement over August (-25.8%), but is still less than half (-52.5%) of typical 2017-2019 levels. Compared to the national rate, inventory declines were improving more quickly in the 50 largest U.S. metros, down by an average of 18.5% year-over-year.Overall new listings posted an annual decline nationwide (-3.9%) for the first time in five months in September, while newly-listed entry-level sin...