Here we go...
Recent article from Redfin on increased national residential listings. See original article HERE.
The Summary.
The housing market is experiencing a notable shift. According to a new Redfin report published on May 22, 2025, new listings of U.S. homes for sale have climbed 8.4% year over year for the four-week period ending May 18, 2025. This marks the highest number of new listings since mid-2022, signaling growing inventory levels across the country.
Despite the increase in listings, buyer demand remains soft. Pending sales have declined 2.2% year over year, making it the lowest level of pending sales for this time of year going back at least a decade. The mismatch between new supply and buyer activity is pushing total active inventory higher, with total homes for sale now up 14.3% year over year. This is the highest level of active listings in nearly five years.
The increase in listings appears to be driven by a combination of economic and personal factors. Some homeowners are opting to list now due to concerns that home prices may soften in the near future. Others are selling due to life events such as job relocations, downsizing, or changes in family circumstances.
Affordability challenges continue to weigh heavily on buyers. The median monthly mortgage payment has reached an all-time high of $2,882, a result of elevated home prices combined with high mortgage rates. This financial strain has sidelined many would-be buyers, contributing to slower sales activity even as inventory rises.
The market now faces an unusual dynamic: increasing inventory paired with tepid buyer demand. While more listings offer greater choices for buyers, the affordability crunch and economic uncertainty are keeping many on the sidelines for now.
WEITZ - As I've been saying for some time in this blog (See March, 2025 post), INVENTORY will dictate this market. This isn't a huge surprise and I expect inventory to elevate as people start to see weakness in the market and will seek to lock in some long standing "profits".
For information on Investing in Snohomish County Commercial Real Estate, feel free to reach out anytime.
Scott Weitz
Weitz Commercial
Scott@Weitzcommercial.com
C: 206.306.4034
No comments:
Post a Comment