No Cool Off In Sight

Despite rising rates, this housing market is showing no signs of cooling, according to the latest research from Altos Research…(Altos)

  • INVENTORY: Just 244,000 single-family homes are on the market right now. This is down significantly from the pre-pandemic level of 724,000 homes which, at the time, was a new low.
  • TIME ON MARKET: Helping to keep inventory levels low is the speed at which homes are being sold. Currently, homes are staying on market for 35 days which is down from the 55 days we saw last February and is down significantly from the 85 days we saw before the pandemic hit almost two years ago.
  • PRICE: When inventory levels and demand remains strong that can only mean one thing, high prices. The median price of a single-family home in the US this week is up 2% this week to $389,900. That’s almost 12% higher than last year at this time.

Read More at Altos Research