Share of Active Homes For Sale Hits Post-Pandemic High

The housing market is becoming more buyer-friendly due to rising inventory and price reductions. In July 2024, active listings increased by 36.6% year-over-year, reaching a post-pandemic high, while 18.9% of listings saw price cuts. The South and West experienced the largest inventory growth, with the South's inventory just 14% below pre-pandemic levels. Although the average time homes spend on the market is increasing, it remains shorter than pre-pandemic averages. Overall, the market shows signs of healing and balance.