In the world of real estate, two factors have become the hottest of topics: interest rates and housing inventory. Over the past year, housing inventory has been consistently low throughout much of the U.S. Freddie Mac estimates that the U.S. is short at least 3.8 million units of housing.
So an influx of new listings hitting the market sounds like welcome news.
The latest RE/MAX National Housing Report – which surveyed 50 metro areas – showed that in January 2024, the number of newly listed homes was up 66.3% from December 2023, and up 21.5% from the prior January.
Many people, it seems, wait out the holiday season and list their home in the new year. But the January 2024 jump in new listings was drastically higher than in years past. And that means more options for buyers.
Here are four metro areas that saw the biggest year-over-year increase in new listings:
1. Honolulu, Hawaii
Hawaii’s capital city saw a +73.4% increase in new listings since January 2023.
Median Price of Homes Sold: $697,608 Average Days on Market: 43
2. Charlotte, North Carolina
The largest city in North Carolina saw a +72.8% increase in new listings since January 2023.
Median Price of Homes Sold: $380,000 Average Days on Market: 36
3. (tie) Bozeman, Montana
Montana’s fast-growing mountain hub saw a +66.4% increase in new listings since January 2023.
Median Price of Homes Sold: $729,000 Average Days on Market: 72
4. (tie) Milwaukee, Wisconsin
The largest city in Wisconsin also saw a +66.4% increase in new listings since January 2023.
Median Price of Homes Sold: $276,500 Average Days on Market: 16
For more insight on how this impacts homebuyers, check out the most recent National Housing Report coverage on RE/MAX News.
If you’re ready to make a move this spring, get in touch with a local RE/MAX agent today.
Recommended For You
Get RE/MAX News delivered to your inbox! Sign up for News Alerts in the footer below.
Written by LEAH CURTIS
