Welcome to this weekly housing trends update, where we bring you the latest snapshot of inventory trends, listing activity, and buyer-seller dynamics across the U.S. housing market. In addition to our monthly housing trends reports, which offer deeper insights into long-term patterns, we publish these weekly updates to provide more timely views into market changes. This effort began in response to rapid shifts in the economy and housing landscape. You can count on a new Weekly Housing Trends update, fresh weekly data each Thursday, and a weekly video from our economists to help you stay informed.
What this week’s data shows
This week’s highlight: Homes are selling at the same pace as a year ago—a milestone, as the gap in days on the market has steadily narrowed throughout the year, signaling that buyer demand is holding steady despite an uncertain economic backdrop.
On the supply side, inventory continues to modestly outpace year-ago levels, though growth has slowed considerably from earlier in the year as buyers absorb available supply. Meanwhile, sellers are adjusting their expectations, with asking prices continuing to decline on an annual basis. The overall picture is one of cautious but active engagement on both sides—a market that, despite headwinds, continues to move.
New listings, a measure of sellers putting homes up for sale, declined 0.5% year over year
New listing activity remained above 100,000 homes this week, but fell slightly behind last year’s pace. The bumpy trajectory over recent weeks suggests homeowners are approaching this selling season with caution, likely taking cues from broader market and economic conditions. Some sellers are reengaging as the summer market approaches, while others appear to be staying on the sidelines amid rate volatility and economic uncertainty.Â
Active inventory climbed 1.8% year over year
The number of homes for sale continues to exceed year-ago levels, though growth has moderated significantly, from nearly 10% gains at the start of the year to less than 2% today. The slowdown likely reflects both sellers feeling hesitant to list and a modest uptick in buyer activity absorbing some available supply. Year to date, active inventory has averaged 5.7% above the same period last year.Â
Homes spent the same amount of time on the market as a year ago
Homes spent the same number of days on the market as a year ago, a gap that has fully closed after narrowing throughout the year. This suggests buyers are absorbing available supply at a pace that matches last year’s. Combined with modest inventory growth, the overall picture is of a market where demand is soft but active enough to keep both supply levels and time on the market from building meaningfully.
The median listing price fell 2.3% year over year
Asking prices have fallen or held flat for more than 31 consecutive weeks, with this week marking the 20th straight week of outright year-over-year declines. For a broader context, home prices have not risen more than 1% year over year since January 2024. On a per-square-foot basis, median list prices were down 2.4%, the 39th consecutive week of year-over-year declines.
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