January 2024
Quick Facts + 11.8 % + 16.0
Monthly Indicators
January 2024
U . S . existing-home sales slipped 1.0 % month-over-month and were down 6.2 % year-over-year as of last measure , while pending sales jumped 8.3 % from the previous month , marking the largest gain since June 2020 , according to the National Association of REALTORS ® ( NAR ). Mortgage rates have dropped significantly from their peak last fall , and homebuyers are beginning to come out of the woodwork , with NAR forecasting a 13 % increase in existing-home sales this year compared to 2023 .
New Listings were up 17.1 percent to 555 . Pending Sales increased 7.8 percent to 468 . Inventory grew 30.8 percent to 1,307 units .
Prices moved higher as Median Sales Price was up 16.0 percent to $ 579,784 . Days on Market increased 14.5 percent to 158 days . Months Supply of Inventory was up 42.9 percent to 3.0 months .
Despite tepid sales activity , the persistent shortage of housing supply has helped prop up home values nationwide , with the median existing-home price rising 4.4 % year-over-year to $ 382,600 , according to NAR . Total unsold inventory was at 1 million units heading into January , an 11.5 % decline from the previous month , for a 3.2 months ’ supply at the current sales pace . Nationally , listing activity has started to pick up , and with mortgage rates stabilizing and housing completions on the rise , inventory is expected to improve in the coming months .
Quick Facts + 11.8 % + 16.0
One-Year Change in Closed Sales
One-Year Cha Median Sales
A research tool provided by the Hilton Hea Percent changes are calculated using roun
Market Overview New Listings Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory
Current as of February 10 , 2024 . Data © 2024 REsides , INC . All Rights Reserved . | Sponsored by South Caro