- Inventory of homes actively for sale grew for the 14th
straight month
- December brought 0.9% more newly listed homes compared to
the same time last year
- Homes spent 70 days on the market, the slowest December in
five years
SANTA
CLARA, Calif., Jan. 8, 2025
/PRNewswire/ -- December 2024 saw a
22.0% growth in homes actively for sale compared with the same time
last year, according to the December Monthly Housing Trends Report
from Realtor.com®. Miami (45.4%), San
Diego (42.4%), and Denver
(41.9%) led the way with the highest active listing growth year
over year amongst the top 50 metros in the U.S.
"December is traditionally a slower time for the market, as
people settle in for the holidays, and we expect to see a seasonal
downturn each year. Compounding this, mortgage rates are hovering
in the high 6s, following a strikingly different trend than at this
time last year," said Danielle Hale,
Chief Economist, Realtor.com®. "Nevertheless, the number
of homes for sale grew compared to last December. Further, growing
activity in newly listed homes and a slower market pace could spell
opportunity for winter buyers who want to get ahead of the busier
spring season."
December 2024 Housing Metrics –
National
|
Metric
|
Change over Dec.
2023
|
Change over Dec.
2019
|
|
Median listing
price
|
-1.8% (to
$402,502)
|
+34.2 %
|
|
Active
listings
|
+22.0 %
|
-15.7 %
|
|
New listings
|
+0.9 %
|
-11.0 %
|
|
Median days on
market
|
+9 days (to 70
days)
|
-7 days
|
|
Share of active
listings with price
reductions
|
+0.2 percentage
points
(to 12.9%)
|
+2.4 percentage
points
|
|
Median List Price Per
Sq.Ft.
|
+1.3 %
|
+49.0 %
|
A Slow, but Improved, December as Inventory Ticks
Up
While homes actively for sale grew for the 14th straight
month in December, the year-over-year growth of 22.0% was slightly
lower than November's year-over-year growth, which was 26.2%. That
being said, inventory is still inching its way back to 2017-2019
levels. Seller activity stalled in December, as newly listed homes
were 0.9% above last year's levels, a decrease from November's rise
of 2.0%, due in part to the Christmas holiday. Furthermore, in
December, inventory sat 15.7% below pre-pandemic levels, which was
a large decrease from the previous month's 21.5% gap.
More Time for Homebuyers as December Days on Market Hits 2024
High
Homes sat on the market for longer this December,
compared to the same time last year, with the typical home spending
70 days on market, which is seven more days than last December and
six more days than November 2024.
Homebuyers may want to take note: days on market make this December
the slowest December since 2019 and overall, the slowest month of
2024.
Out of the 50 largest metros, 46 saw time on market go up in
December. Specifically, Nashville,
Tenn. (+22 days), Orlando,
Fla. (+21 days), and Rochester,
N.Y. (+21 days) saw the greatest increase in time on market
this month. Even with the increase, across the country, each of the
regions are still seeing time on market below pre-pandemic levels,
South (-4 days), Midwest (-17 days) and Northeast (-19 days), with
the exception of the West, which is seeing time on market more
closely mirror pre-pandemic levels (+1 day).
Increase in Price per Square Foot
Price per square
foot continues to rise, experiencing a 1.3% increase this December
compared to the same time last year. However, some metro areas saw
significantly higher gains, with double digit growth in
Cleveland (13.9%), and
Hartford, Conn. (12.9%), followed
by Milwaukee (8.5%). When compared
to pre-pandemic levels, the growth is greater; relative to
pre-pandemic levels, the median price per square foot grew by 49.5%
nationally, with 20 of the 50 metros experiencing similar or larger
growth, led by Hartford, Conn.
(66.8%), New York (66.8%) and
Nashville (60.3%), which all
experienced growth above 60%.
December 2024 Housing Overview
of the 50 Largest Metros
|
Metro Area
|
Median Listing
Price
|
Median Listing
Price YoY
|
Median Listing
Price per Sq. Ft.
YoY
|
Median Listing
Price vs
December 2019
|
Median Listing
Price per Sq. Ft.
vs December
2019
|
|
Atlanta-Sandy
Springs-Alpharetta, Ga.
|
$399,950
|
-3.6 %
|
-0.6 %
|
25.8 %
|
47.9 %
|
|
Austin-Round
Rock-Georgetown, Texas
|
$498,500
|
-7.7 %
|
-5.3 %
|
42.4 %
|
51.8 %
|
|
Baltimore-Columbia-Towson, Md.
|
$350,000
|
1.4 %
|
0.9 %
|
15.5 %
|
27.8 %
|
|
Birmingham-Hoover,
Ala.
|
$289,788
|
0.0 %
|
0.0 %
|
14.1 %
|
28.6 %
|
|
Boston-Cambridge-Newton, Mass.-N.H.
|
$801,383
|
0.2 %
|
3.4 %
|
36.0 %
|
56.6 %
|
|
Buffalo-Cheektowaga,
N.Y.
|
$249,950
|
0.4 %
|
4.0 %
|
31.6 %
|
46.5 %
|
|
Charlotte-Concord-Gastonia, N.C.-S.C.
|
$422,450
|
5.6 %
|
1.2 %
|
25.8 %
|
54.8 %
|
|
Chicago-Naperville-Elgin, Ill.-Ind.-Wis.
|
$347,450
|
-0.7 %
|
1.9 %
|
16.2 %
|
31.1 %
|
|
Cincinnati,
Ohio-Ky.-Ind.
|
$319,050
|
-4.8 %
|
3.4 %
|
23.2 %
|
50.5 %
|
|
Cleveland-Elyria,
Ohio
|
$239,950
|
9.1 %
|
13.9 %
|
33.4 %
|
52.8 %
|
|
Columbus,
Ohio
|
$349,450
|
-2.9 %
|
3.3 %
|
27.1 %
|
52.6 %
|
|
Dallas-Fort
Worth-Arlington, Texas
|
$422,450
|
-2.9 %
|
-0.3 %
|
25.1 %
|
41.7 %
|
|
Denver-Aurora-Lakewood,
Colo.
|
$577,350
|
-5.4 %
|
-1.1 %
|
16.1 %
|
34.1 %
|
|
Detroit-Warren-Dearborn, Mich.
|
$249,900
|
6.2 %
|
1.4 %
|
11.1 %
|
27.1 %
|
|
Hartford-East
Hartford-Middletown, Conn.
|
$399,900
|
2.6 %
|
12.9 %
|
37.9 %
|
66.8 %
|
|
Houston-The
Woodlands-Sugar Land, Texas
|
$361,405
|
0.4 %
|
-0.3 %
|
20.5 %
|
36.4 %
|
|
Indianapolis-Carmel-Anderson, Ind.
|
$309,900
|
1.6 %
|
2.4 %
|
21.2 %
|
49.6 %
|
|
Jacksonville,
Fla.
|
$384,500
|
-5.7 %
|
-2.2 %
|
28.2 %
|
45.9 %
|
|
Kansas City,
Mo.-Kan.
|
$369,995
|
-7.5 %
|
-1.2 %
|
17.9 %
|
37.9 %
|
|
Las
Vegas-Henderson-Paradise, Nev.
|
$468,450
|
1.9 %
|
4.6 %
|
46.5 %
|
53.9 %
|
|
Los Angeles-Long
Beach-Anaheim, Calif.
|
$1,094,000
|
-0.5 %
|
1.6 %
|
29.5 %
|
42.8 %
|
|
Louisville/Jefferson
County, Ky.-Ind.
|
$304,998
|
1.7 %
|
1.9 %
|
27.1 %
|
37.7 %
|
|
Memphis,
Tenn.-Miss.-Ark.
|
$329,960
|
3.5 %
|
-0.4 %
|
41.9 %
|
57.6 %
|
|
Miami-Fort
Lauderdale-Pompano Beach, Fla.
|
$522,500
|
-9.9 %
|
-6.6 %
|
30.7 %
|
39.8 %
|
|
Milwaukee-Waukesha,
Wis.
|
$357,450
|
6.7 %
|
8.5 %
|
41.0 %
|
46.6 %
|
|
Minneapolis-St.
Paul-Bloomington, Minn.-Wis.
|
$423,198
|
0.7 %
|
-0.1 %
|
20.9 %
|
28.0 %
|
|
Nashville-Davidson-Murfreesboro-Franklin,
Tenn.
|
$537,450
|
-3.9 %
|
0.2 %
|
46.2 %
|
60.3 %
|
|
New Orleans-Metairie,
La.
|
$325,000
|
0.0 %
|
-1.2 %
|
16.7 %
|
25.5 %
|
|
New York-Newark-Jersey
City, N.Y.-N.J.-Pa.
|
$749,000
|
2.0 %
|
1.5 %
|
30.4 %
|
66.8 %
|
|
Oklahoma City,
Okla.
|
$309,950
|
-3.1 %
|
-0.1 %
|
24.0 %
|
37.5 %
|
|
Orlando-Kissimmee-Sanford, Fla.
|
$419,950
|
-4.3 %
|
-2.4 %
|
32.5 %
|
51.4 %
|
|
Philadelphia-Camden-Wilmington,
Pa.-N.J.-Del.-Md.
|
$358,075
|
5.3 %
|
5.4 %
|
25.4 %
|
48.9 %
|
|
Phoenix-Mesa-Chandler,
Ariz.
|
$499,995
|
-5.1 %
|
0.6 %
|
31.6 %
|
49.4 %
|
|
Pittsburgh,
Pa.
|
$235,000
|
-1.7 %
|
3.2 %
|
23.7 %
|
30.8 %
|
|
Portland-Vancouver-Hillsboro, Ore.-Wash.
|
$597,000
|
-0.5 %
|
0.5 %
|
28.0 %
|
38.1 %
|
|
Providence-Warwick,
R.I.-Mass.
|
$524,950
|
5.0 %
|
5.9 %
|
41.9 %
|
44.1 %
|
|
Raleigh-Cary,
N.C.
|
$444,498
|
-0.4 %
|
1.0 %
|
23.5 %
|
49.6 %
|
|
Richmond,
Va.
|
$419,950
|
-2.3 %
|
2.9 %
|
30.1 %
|
55.0 %
|
|
Riverside-San
Bernardino-Ontario, Calif.
|
$597,000
|
3.1 %
|
0.9 %
|
47.4 %
|
56.2 %
|
|
Rochester,
N.Y.
|
$257,400
|
3.0 %
|
4.4 %
|
28.8 %
|
38.2 %
|
|
Sacramento-Roseville-Folsom, Calif.
|
$615,000
|
-1.6 %
|
-0.5 %
|
24.2 %
|
34.6 %
|
|
San Antonio-New
Braunfels, Texas
|
$329,950
|
-1.7 %
|
-1.9 %
|
18.3 %
|
33.7 %
|
|
San Diego-Chula
Vista-Carlsbad, Calif.
|
$964,725
|
-1.6 %
|
-0.5 %
|
34.5 %
|
52.6 %
|
|
San
Francisco-Oakland-Berkeley, Calif.
|
$889,500
|
-10.9 %
|
-6.5 %
|
-1.1 %
|
17.9 %
|
|
San
Jose-Sunnyvale-Santa Clara, Calif.
|
$1,268,500
|
-2.3 %
|
-0.9 %
|
17.0 %
|
24.0 %
|
|
Seattle-Tacoma-Bellevue, Wash.
|
$724,475
|
-3.3 %
|
2.0 %
|
24.9 %
|
46.6 %
|
|
St. Louis,
Mo.-Ill.
|
$277,450
|
0.9 %
|
-0.1 %
|
32.0 %
|
27.4 %
|
|
Tampa-St.
Petersburg-Clearwater, Fla.
|
$395,000
|
-6.0 %
|
-5.5 %
|
41.3 %
|
56.9 %
|
|
Virginia
Beach-Norfolk-Newport News, Va.-N.C.
|
$387,450
|
3.3 %
|
5.2 %
|
29.6 %
|
45.6 %
|
|
Washington-Arlington-Alexandria, DC-Va.-Md.-W.
Va.
|
$572,500
|
-2.1 %
|
3.4 %
|
21.8 %
|
51.5 %
|
|
Metro Area
|
Active Listing
Count YoY
|
New Listing
Count YoY
|
Median Days
on Market
|
Median Days
on Market Y-
Y (Days)
|
Price–
Reduced
Share
|
Price-
Reduced
Share Y-Y
(Percentage
Points)
|
|
Atlanta-Sandy
Springs-Alpharetta, Ga.
|
38.3 %
|
17.8 %
|
65
|
12
|
16.2 %
|
+3.2 pp
|
|
Austin-Round
Rock-Georgetown, Texas
|
13.0 %
|
-14.2 %
|
80
|
6
|
16.1 %
|
-3.9 pp
|
|
Baltimore-Columbia-Towson, Md.
|
17.5 %
|
5.4 %
|
49
|
3
|
12.3 %
|
-0.7 pp
|
|
Birmingham-Hoover,
Ala.
|
19.0 %
|
17.1 %
|
69
|
8
|
12.6 %
|
-2.5 pp
|
|
Boston-Cambridge-Newton, Mass.-N.H.
|
1.1 %
|
-18.2 %
|
60
|
7
|
8.9 %
|
-0.2 pp
|
|
Buffalo-Cheektowaga,
N.Y.
|
17.0 %
|
-14.1 %
|
61
|
2
|
5.8 %
|
+0.3 pp
|
|
Charlotte-Concord-Gastonia, N.C.-S.C.
|
33.6 %
|
3.6 %
|
63
|
10
|
16.0 %
|
+3.1 pp
|
|
Chicago-Naperville-Elgin, Ill.-Ind.-Wis.
|
6.4 %
|
11.8 %
|
51
|
1
|
10.2 %
|
-1.8 pp
|
|
Cincinnati,
Ohio-Ky.-Ind.
|
18.2 %
|
-11.0 %
|
52
|
8
|
12.5 %
|
1.5 pp
|
|
Cleveland-Elyria,
Ohio
|
3.7 %
|
-19.1 %
|
55
|
4
|
13.0 %
|
-0.7 pp
|
|
Columbus,
Ohio
|
24.9 %
|
-1.5 %
|
56
|
7
|
17.7 %
|
-0.3 pp
|
|
Dallas-Fort
Worth-Arlington, Texas
|
31.1 %
|
14.7 %
|
66
|
8
|
17.4 %
|
+0.0 pp
|
|
Denver-Aurora-Lakewood,
Colo.
|
41.9 %
|
0.8 %
|
74
|
13
|
24.1 %
|
+11.5 pp
|
|
Detroit-Warren-Dearborn, Mich.
|
8.0 %
|
-1.6 %
|
50
|
-1
|
11.8 %
|
-0.4 pp
|
|
Hartford-East
Hartford-Middletown, Conn.
|
3.4 %
|
-9.0 %
|
49
|
4
|
7.4 %
|
+0.6 pp
|
|
Houston-The
Woodlands-Sugar Land, Texas
|
24.5 %
|
9.0 %
|
59
|
3
|
13.6 %
|
+0.5 pp
|
|
Indianapolis-Carmel-Anderson, Ind.
|
12.1 %
|
0.4 %
|
60
|
3
|
16.9 %
|
-2.2 pp
|
|
Jacksonville,
Fla.
|
36.8 %
|
2.5 %
|
78
|
17
|
17.9 %
|
+2.9 pp
|
|
Kansas City,
Mo.-Kan.
|
12.2 %
|
1.6 %
|
68
|
4
|
11.6 %
|
+1.7 pp
|
|
Las
Vegas-Henderson-Paradise, Nev.
|
41.5 %
|
16.3 %
|
63
|
9
|
15.5 %
|
+0.7 pp
|
|
Los Angeles-Long
Beach-Anaheim, Calif.
|
26.3 %
|
-7.1 %
|
63
|
9
|
9.0 %
|
+1.5 pp
|
|
Louisville/Jefferson
County, Ky.-Ind.
|
13.4 %
|
11.2 %
|
51
|
3
|
15.3 %
|
-2.7 pp
|
|
Memphis,
Tenn.-Miss.-Ark.
|
18.5 %
|
-10.2 %
|
73
|
10
|
15.5 %
|
-3.0 pp
|
|
Miami-Fort
Lauderdale-Pompano Beach, Fla.
|
45.4 %
|
11.3 %
|
79
|
18
|
14.7 %
|
+0.7 pp
|
|
Milwaukee-Waukesha,
Wis.
|
6.0 %
|
-16.0 %
|
45
|
1
|
11.6 %
|
-3.1 pp
|
|
Minneapolis-St.
Paul-Bloomington, Minn.-Wis.
|
8.0 %
|
0.5 %
|
59
|
5
|
10.1 %
|
-0.3 pp
|
|
Nashville-Davidson-Murfreesboro-Franklin,
Tenn.
|
17.1 %
|
3.6 %
|
66
|
22
|
11.9 %
|
-3.1 pp
|
|
New Orleans-Metairie,
La.
|
12.4 %
|
-11.6 %
|
83
|
6
|
12.3 %
|
-0.3 pp
|
|
New York-Newark-Jersey
City, N.Y.-N.J.-Pa.
|
0.3 %
|
6.4 %
|
73
|
2
|
4.6 %
|
-1.3 pp
|
|
Oklahoma City,
Okla.
|
28.4 %
|
-4.1 %
|
58
|
0
|
15.2 %
|
-2.6 pp
|
|
Orlando-Kissimmee-Sanford, Fla.
|
42.4 %
|
-8.5 %
|
80
|
22
|
17.0 %
|
+0.4 pp
|
|
Philadelphia-Camden-Wilmington,
Pa.-N.J.-Del.-Md.
|
6.4 %
|
-5.9 %
|
57
|
1
|
10.9 %
|
-1.1 pp
|
|
Phoenix-Mesa-Chandler,
Ariz.
|
32.8 %
|
5.2 %
|
66
|
13
|
21.2 %
|
+0.3 pp
|
|
Pittsburgh,
Pa.
|
14.4 %
|
-10.0 %
|
69
|
3
|
12.2 %
|
-1.0 pp
|
|
Portland-Vancouver-Hillsboro, Ore.-Wash.
|
13.0 %
|
-6.7 %
|
80
|
14
|
20.8 %
|
+8.7 pp
|
|
Providence-Warwick,
R.I.-Mass.
|
4.3 %
|
-9.2 %
|
49
|
4
|
16.6 %
|
+7.8 pp
|
|
Raleigh-Cary,
N.C.
|
27.0 %
|
-1.8 %
|
70
|
7
|
11.6 %
|
+0.7 pp
|
|
Richmond,
Va.
|
10.1 %
|
2.2 %
|
54
|
0
|
10.5 %
|
+1.5 pp
|
|
Riverside-San
Bernardino-Ontario, Calif.
|
32.8 %
|
-1.9 %
|
66
|
7
|
11.1 %
|
+0.4 pp
|
|
Rochester,
N.Y.
|
1.4 %
|
-27.6 %
|
56
|
21
|
3.9 %
|
-5.9 pp
|
|
Sacramento-Roseville-Folsom, Calif.
|
22.1 %
|
-8.2 %
|
62
|
10
|
11.8 %
|
+0.9 pp
|
|
San Antonio-New
Braunfels, Texas
|
16.1 %
|
3.8 %
|
74
|
6
|
17.7 %
|
-0.8 pp
|
|
San Diego-Chula
Vista-Carlsbad, Calif.
|
41.2 %
|
0.0 %
|
55
|
11
|
10.9 %
|
+0.2 pp
|
|
San
Francisco-Oakland-Berkeley, Calif.
|
14.0 %
|
-3.6 %
|
64
|
6
|
7.9 %
|
+0.4 pp
|
|
San
Jose-Sunnyvale-Santa Clara, Calif.
|
-1.0 %
|
-18.5 %
|
50
|
7
|
7.2 %
|
+1.1 pp
|
|
Seattle-Tacoma-Bellevue, Wash.
|
18.1 %
|
-7.4 %
|
63
|
6
|
10.5 %
|
+1.2 pp
|
|
St. Louis,
Mo.-Ill.
|
9.6 %
|
-3.2 %
|
58
|
5
|
12.9 %
|
+1.4 pp
|
|
Tampa-St.
Petersburg-Clearwater, Fla.
|
27.0 %
|
8.0 %
|
72
|
15
|
19.6 %
|
-0.2 pp
|
|
Virginia
Beach-Norfolk-Newport News, Va.-N.C.
|
17.7 %
|
16.9 %
|
47
|
2
|
14.4 %
|
-3.2 pp
|
|
Washington-Arlington-Alexandria, DC-Va.-Md.-W.
Va.
|
19.9 %
|
-3.5 %
|
50
|
0
|
10.8 %
|
+1.0 pp
|
Methodology
Realtor.com® housing data as of
December 2024. Listings include the
active inventory of existing single-family homes and
condos/townhomes/row homes/co-ops for the given level of geography
on Realtor.com®; new construction is excluded unless
listed via an MLS that provides listing data to
Realtor.com®. Realtor.com® data history goes
back to July 2016. The 50 largest
U.S. metropolitan areas as defined by the Office of Management and
Budget (OMB-202003). With the release of its November 2024 housing trends report,
Realtor.com® has restated data points for some previous
months. As a result of these changes, some of the data released
since September 2024 will not be
directly comparable with previous data releases (files downloaded
before September 2024) and
Realtor.com® economics research reports.
About Realtor.com®
Realtor.com®
is an open real estate marketplace built for everyone.
Realtor.com® pioneered the world of digital real estate
more than 25 years ago. Today, through its website and mobile apps,
Realtor.com® is a trusted guide for consumers,
empowering more people to find their way home by breaking down
barriers, helping them make the right connections, and creating
confidence through expert insights and guidance. For professionals,
Realtor.com® is a trusted partner for business growth,
offering consumer connections and branding solutions that help them
succeed in today's on-demand world. Realtor.com® is
operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV]
subsidiary Move, Inc. For more information, visit
Realtor.com®.
Media contact: Asees Singh, press@realtor.com
View original
content:https://www.prnewswire.com/news-releases/holiday-slowdown-arrives-in-december-with-some-silver-linings-for-buyers-302344836.html
SOURCE Realtor.com
