- Newly listed homes increase 37.5% month-over-month
- Homes actively for sale increase 24.6% compared with last
year
- Share of listings with price cuts grows 15.6% compared with
the same time last year
SANTA
CLARA, Calif., Jan. 30,
2025 /PRNewswire/ -- Despite recent increases in
mortgage rates, January showed a promising change in seller
activity as newly listed homes grew 37.5% month-over-month,
according to the Realtor.com® January Monthly
Housing Report. Out of the top 50 metros, Sacramento (+31.7%), Phoenix (+27.3%), and Seattle (+24.7%) experienced the greatest
bumps in newly listed homes this month compared with the same time
last year.
"The shift in seller activity could mark a turning point in the
high mortgage rate-induced standoff between buyers and sellers,"
said Danielle Hale, Chief Economist,
Realtor.com®. "The uptick is likely due to some
residual benefit from fall's lower mortgage rates, which could
fade. But drivers such as the need for families to adapt to life
changes and the easing of the lock-in effect, could bring more
movement from sellers by year's end."
January 2025 Housing Metrics –
National
|
Metric
|
Change over Jan.
2024
|
Change over Jan.
2019
|
|
Median listing
price
|
-2.2% (to
$400,500)
|
+38.4 %
|
|
Active
listings
|
+25.3 %
|
-25.3 %
|
|
New listings
|
+10.8 %
|
-18.0 %
|
|
Median days on
market
|
+5 days (to 73
days)
|
- 8
days
|
|
Share of active
listings with price reductions
|
+0.9 percentage points
(to 15.6%)
|
-0.4 percentage
points
|
|
Median List Price Per
Sq.Ft.
|
+1.2 %
|
+54.9 %
|
Sellers Warm Up to the Market a Little More
Newly
listed homes were 10.8% above last year's levels, an increase from
December's slight rise of 0.9%, which puts new listing activity at
its highest January level since 2021 and shows sellers are
increasingly warming up to the market. A recent Realtor.com
analysis showed the share of mortgage holders with a rate under 6%
fell to 83%, down from 88% just one year ago. Per the 2025
Realtor.com® Housing Forecast, that share is
expected to decline to 75% by the end of the year.
Furthermore, annual inventory grew for the 15th straight month,
with 24.6% more homes actively for sale on a typical day in January
compared with the same time in 2024. When it comes to the most
active markets, Denver (+54.8%),
Las Vegas (+49.4%), and
Tucson (+45.0%) experienced the
highest increases in active listings year-over-year, while
New York (+0.3%), Hartford, Conn. (+1.8%) and Milwaukee, Wis. (+5.0%) experienced the lowest
growth in active listings year-over-year.
Price Cuts Increase
In addition to an
increase in listing activity, sellers are cutting prices. The share
of listings with price cuts grew once again compared with last
year. In fact, 15.6% of sellers cut prices in the month of January,
up from 14.7% in January 2024.
Interestingly, out of the top five markets with the highest share
of price reduction, three markets are in Florida: Jacksonville (24.3%), Tampa (24.8%), Orlando (22.3%). In addition to the
Florida markets,
Phoenix, Ariz. (25.5%) and Portland, Ore. (22.1%) rounded out the top
five markets with the highest share of price reductions.
The South and West Get Closer to Closing the Inventory Gap
While the Midwest and Northeast struggle
While January
saw each of the four regions continue to close the inventory gap,
the South and West are leading the way by far. In the West,
listings grew by 31.0% while the South experienced a 27.2% growth
in listings. The Midwest (+16.8%) and Northeast (+7.8%) trailed
behind, though still saw increases. Additionally, when comparing
inventory levels to pre-pandemic (2017-2019) levels, the inventory
gap is also the smallest in the South (-10.0%) and West (-13.3%), a
huge difference between the Midwest, where inventory is still down
by 43.6% relative to pre-pandemic levels, and an even larger gap of
58.1% in the Northeast.
A look specifically at the top 50 metros shows Denver (+54.8%), Las
Vegas (+49.4%), and Tucson
(+45.0%) experienced the highest bumps in inventory growth this
January.
January 2025 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 January
2019
|
Median Listing
Price per Sq. Ft.
vs January2019
|
|
Atlanta-Sandy
Springs-Roswell, Ga.
|
$399,000
|
-2.7 %
|
-0.8 %
|
28.8 %
|
56.2 %
|
|
Austin-Round Rock-San
Marcos, Texas
|
$494,667
|
-9.2 %
|
-5.2 %
|
41.9 %
|
54.5 %
|
|
Baltimore-Columbia-Towson, Md.
|
$349,900
|
6.8 %
|
1.4 %
|
17.0 %
|
27.1 %
|
|
Birmingham,
Ala.
|
$284,925
|
0.7 %
|
0.2 %
|
25.6 %
|
36.3 %
|
|
Boston-Cambridge-Newton, Mass.-N.H.
|
$799,450
|
-1.3 %
|
1.4 %
|
49.7 %
|
69.0 %
|
|
Buffalo-Cheektowaga,
N.Y.
|
$252,450
|
5.2 %
|
6.1 %
|
40.3 %
|
56.6 %
|
|
Charlotte-Concord-Gastonia, N.C.-S.C.
|
$420,000
|
5.0 %
|
1.7 %
|
29.2 %
|
63.1 %
|
|
Chicago-Naperville-Elgin, Ill.-Ind.
|
$343,498
|
-2.2 %
|
0.7 %
|
15.7 %
|
31.8 %
|
|
Cincinnati,
Ohio-Ky.-Ind.
|
$319,450
|
-3.2 %
|
3.7 %
|
33.2 %
|
57.5 %
|
|
Cleveland,
Ohio
|
$234,925
|
11.3 %
|
14.1 %
|
34.3 %
|
58.7 %
|
|
Columbus,
Ohio
|
$340,725
|
-7.9 %
|
1.2 %
|
33.7 %
|
61.1 %
|
|
Dallas-Fort
Worth-Arlington, Texas
|
$415,500
|
-3.6 %
|
-0.5 %
|
22.2 %
|
44.7 %
|
|
Denver-Aurora-Centennial, Colo.
|
$569,950
|
-5.0 %
|
-1.2 %
|
16.9 %
|
45.8 %
|
|
Detroit-Warren-Dearborn, Mich.
|
$239,950
|
4.5 %
|
3.8 %
|
9.7 %
|
28.3 %
|
|
Grand
Rapids-Wyoming-Kentwood, Mich.
|
$374,500
|
-6.4 %
|
-2.2 %
|
38.8 %
|
52.3 %
|
|
Hartford-West
Hartford-East Hartford, Conn.
|
$408,375
|
2.1 %
|
12.3 %
|
44.6 %
|
60.4 %
|
|
Houston-Pasadena-The
Woodlands, Texas
|
$359,000
|
0.2 %
|
-0.7 %
|
17.1 %
|
38.4 %
|
|
Indianapolis-Carmel-Greenwood, Ind.
|
$300,000
|
-2.4 %
|
0.5 %
|
23.7 %
|
54.0 %
|
|
Jacksonville,
Fla.
|
$385,000
|
-4.9 %
|
-2.8 %
|
29.6 %
|
52.1 %
|
|
Kansas City,
Mo.-Kan.
|
$374,950
|
-10.3 %
|
-1.9 %
|
25.1 %
|
44.8 %
|
|
Las
Vegas-Henderson-North Las Vegas, Nev.
|
$467,500
|
1.6 %
|
3.2 %
|
48.4 %
|
57.3 %
|
|
Los Angeles-Long
Beach-Anaheim, Calif.
|
$1,089,500
|
-1.0 %
|
0.9 %
|
47.0 %
|
53.2 %
|
|
Louisville/Jefferson
County, Ky.-Ind.
|
$305,950
|
-1.0 %
|
1.4 %
|
23.1 %
|
46.6 %
|
|
Memphis,
Tenn.-Miss.-Ark.
|
$329,500
|
2.9 %
|
1.8 %
|
62.3 %
|
68.2 %
|
|
Miami-Fort
Lauderdale-West Palm Beach, Fla.
|
$520,000
|
-7.9 %
|
-5.6 %
|
33.3 %
|
49.0 %
|
|
Milwaukee-Waukesha,
Wis.
|
$362,500
|
6.0 %
|
8.0 %
|
45.2 %
|
53.9 %
|
|
Minneapolis-St.
Paul-Bloomington, Minn.-Wis.
|
$425,000
|
0.0 %
|
-0.2 %
|
11.6 %
|
27.9 %
|
|
Nashville-Davidson-Murfreesboro-Franklin,
Tenn.
|
$525,000
|
-6.2 %
|
-0.5 %
|
47.6 %
|
63.5 %
|
|
New York-Newark-Jersey
City, N.Y.-N.J.
|
$750,000
|
0.1 %
|
0.0 %
|
37.6 %
|
81.1 %
|
|
Oklahoma City,
Okla.
|
$312,368
|
-2.4 %
|
0.4 %
|
33.3 %
|
46.1 %
|
|
Orlando-Kissimmee-Sanford, Fla.
|
$419,900
|
-3.5 %
|
-2.3 %
|
40.0 %
|
54.8 %
|
|
Philadelphia-Camden-Wilmington,
Pa.-N.J.-Del.-Md.
|
$352,000
|
4.4 %
|
5.0 %
|
40.9 %
|
61.0 %
|
|
Phoenix-Mesa-Chandler,
Ariz.
|
$512,450
|
-4.2 %
|
0.0 %
|
47.3 %
|
60.2 %
|
|
Pittsburgh,
Pa.
|
$229,700
|
-0.1 %
|
0.8 %
|
39.3 %
|
36.5 %
|
|
Portland-Vancouver-Hillsboro, Ore.-Wash.
|
$598,725
|
-0.8 %
|
0.1 %
|
26.4 %
|
40.6 %
|
|
Providence-Warwick,
R.I.-Mass.
|
$521,175
|
3.2 %
|
8.3 %
|
48.9 %
|
54.1 %
|
|
Raleigh-Cary,
N.C.
|
$440,000
|
-0.1 %
|
0.7 %
|
25.7 %
|
55.3 %
|
|
Richmond,
Va.
|
$421,225
|
-4.9 %
|
2.5 %
|
35.9 %
|
61.3 %
|
|
Riverside-San
Bernardino-Ontario, Calif.
|
$599,000
|
2.4 %
|
0.5 %
|
50.1 %
|
59.5 %
|
|
Sacramento-Roseville-Folsom, Calif.
|
$615,000
|
-2.4 %
|
-0.2 %
|
36.7 %
|
41.3 %
|
|
San Antonio-New
Braunfels, Texas
|
$325,000
|
-3.2 %
|
-2.2 %
|
14.0 %
|
37.3 %
|
|
San Diego-Chula
Vista-Carlsbad, Calif.
|
$950,000
|
-2.8 %
|
-0.7 %
|
44.1 %
|
64.9 %
|
|
San
Francisco-Oakland-Fremont, Calif.
|
$882,000
|
-6.6 %
|
-5.7 %
|
6.0 %
|
18.3 %
|
|
San
Jose-Sunnyvale-Santa Clara, Calif.
|
$1,268,000
|
-1.6 %
|
2.6 %
|
26.8 %
|
20.4 %
|
|
Seattle-Tacoma-Bellevue, Wash.
|
$725,813
|
-3.2 %
|
0.0 %
|
29.0 %
|
56.3 %
|
|
St. Louis,
Mo.-Ill.
|
$274,950
|
-0.9 %
|
-1.6 %
|
37.8 %
|
30.9 %
|
|
Tampa-St.
Petersburg-Clearwater, Fla.
|
$396,973
|
-5.4 %
|
-5.7 %
|
49.5 %
|
62.7 %
|
|
Tucson,
Ariz.
|
$391,255
|
-1.9 %
|
-0.2 %
|
40.0 %
|
57.0 %
|
|
Virginia
Beach-Chesapeake-Norfolk, Va.-N.C.
|
$389,450
|
2.8 %
|
5.5 %
|
41.6 %
|
54.0 %
|
|
Washington-Arlington-Alexandria, DC-Va.-Md.-W.
Va.
|
$577,000
|
-2.9 %
|
0.9 %
|
31.5 %
|
59.5 %
|
|
|
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-Roswell, Ga.
|
38.1 %
|
13.2 %
|
66
|
10
|
18.5 %
|
2.6 pp
|
|
Austin-Round Rock-San
Marcos, Texas
|
16.4 %
|
14.3 %
|
82
|
5
|
19.8 %
|
-2.4 pp
|
|
Baltimore-Columbia-Towson, Md.
|
24.0 %
|
4.1 %
|
53
|
0
|
11.9 %
|
-0.3 pp
|
|
Birmingham,
Ala.
|
17.6 %
|
-2.7 %
|
75
|
4
|
16.1 %
|
1.9 pp
|
|
Boston-Cambridge-Newton, Mass.-N.H.
|
7.5 %
|
13.8 %
|
56
|
3
|
11.2 %
|
2.3 pp
|
|
Buffalo-Cheektowaga,
N.Y.
|
14.7 %
|
6.4 %
|
71
|
3
|
7.2 %
|
1.0 pp
|
|
Charlotte-Concord-Gastonia, N.C.-S.C.
|
38.0 %
|
9.1 %
|
67
|
8
|
19.0 %
|
2.0 pp
|
|
Chicago-Naperville-Elgin, Ill.-Ind.
|
8.4 %
|
13.2 %
|
57
|
2
|
11.1 %
|
1.7 pp
|
|
Cincinnati,
Ohio-Ky.-Ind.
|
19.3 %
|
-8.5 %
|
61
|
7
|
13.5 %
|
-0.2 pp
|
|
Cleveland,
Ohio
|
7.9 %
|
-5.3 %
|
65
|
6
|
15.2 %
|
0.4 pp
|
|
Columbus,
Ohio
|
30.9 %
|
7.5 %
|
59
|
4
|
18.2 %
|
0.7 pp
|
|
Dallas-Fort
Worth-Arlington, Texas
|
35.7 %
|
12.5 %
|
69
|
7
|
20.9 %
|
1.6 pp
|
|
Denver-Aurora-Centennial, Colo.
|
54.8 %
|
20.7 %
|
72
|
10
|
18.0 %
|
2.9 pp
|
|
Detroit-Warren-Dearborn, Mich.
|
10.9 %
|
1.1 %
|
57
|
7
|
11.9 %
|
1.1 pp
|
|
Grand
Rapids-Wyoming-Kentwood, Mich.
|
31.9 %
|
19.7 %
|
65
|
5
|
13.8 %
|
4.8 pp
|
|
Hartford-West
Hartford-East Hartford, Conn.
|
1.8 %
|
5.7 %
|
51
|
-1
|
7.3 %
|
0.6 pp
|
|
Houston-Pasadena-The
Woodlands, Texas
|
25.9 %
|
5.9 %
|
62
|
3
|
16.6 %
|
1.1 pp
|
|
Indianapolis-Carmel-Greenwood, Ind.
|
17.3 %
|
5.2 %
|
68
|
2
|
19.0 %
|
1.0 pp
|
|
Jacksonville,
Fla.
|
40.0 %
|
13.0 %
|
74
|
8
|
24.3 %
|
3.3 pp
|
|
Kansas City,
Mo.-Kan.
|
11.0 %
|
-4.3 %
|
78
|
2
|
11.6 %
|
0.7 pp
|
|
Las
Vegas-Henderson-North Las Vegas, Nev.
|
49.4 %
|
24.1 %
|
62
|
3
|
16.4 %
|
2.3 pp
|
|
Los Angeles-Long
Beach-Anaheim, Calif.
|
32.9 %
|
19.3 %
|
64
|
8
|
8.5 %
|
0.3 pp
|
|
Louisville/Jefferson
County, Ky.-Ind.
|
15.9 %
|
-1.5 %
|
59
|
6
|
16.9 %
|
1.3 pp
|
|
Memphis,
Tenn.-Miss.-Ark.
|
23.1 %
|
17.5 %
|
77
|
5
|
18.1 %
|
-0.3 pp
|
|
Miami-Fort
Lauderdale-West Palm Beach, Fla.
|
40.8 %
|
4.1 %
|
79
|
11
|
18.8 %
|
0.7 pp
|
|
Milwaukee-Waukesha,
Wis.
|
5.0 %
|
14.0 %
|
51
|
5
|
12.0 %
|
1.9 pp
|
|
Minneapolis-St.
Paul-Bloomington, Minn.-Wis.
|
8.8 %
|
4.3 %
|
59
|
2
|
10.6 %
|
1.5 pp
|
|
Nashville-Davidson-Murfreesboro-Franklin,
Tenn.
|
23.1 %
|
13.6 %
|
65
|
19
|
14.1 %
|
-0.8 pp
|
|
New York-Newark-Jersey
City, N.Y.-N.J.
|
0.3 %
|
5.1 %
|
77
|
-3
|
5.8 %
|
-1.1 pp
|
|
Oklahoma City,
Okla.
|
27.8 %
|
17.7 %
|
61
|
2
|
17.3 %
|
-2.2 pp
|
|
Orlando-Kissimmee-Sanford, Fla.
|
39.4 %
|
14.7 %
|
81
|
15
|
22.3 %
|
2.1 pp
|
|
Philadelphia-Camden-Wilmington,
Pa.-N.J.-Del.-Md.
|
11.5 %
|
5.0 %
|
63
|
-3
|
12.3 %
|
0.7 pp
|
|
Phoenix-Mesa-Chandler,
Ariz.
|
38.6 %
|
27.3 %
|
67
|
7
|
25.5 %
|
2.5 pp
|
|
Pittsburgh,
Pa.
|
13.9 %
|
-1.7 %
|
84
|
5
|
13.1 %
|
-2.1 pp
|
|
Portland-Vancouver-Hillsboro, Ore.-Wash.
|
20.1 %
|
17.3 %
|
82
|
11
|
22.1 %
|
10.5 pp
|
|
Providence-Warwick,
R.I.-Mass.
|
11.1 %
|
12.6 %
|
52
|
-3
|
13.3 %
|
5.4 pp
|
|
Raleigh-Cary,
N.C.
|
32.2 %
|
10.1 %
|
71
|
9
|
14.7 %
|
3.1 pp
|
|
Richmond,
Va.
|
13.4 %
|
-4.6 %
|
56
|
-5
|
11.8 %
|
3.4 pp
|
|
Riverside-San
Bernardino-Ontario, Calif.
|
39.1 %
|
14.2 %
|
71
|
7
|
14.1 %
|
1.7 pp
|
|
Sacramento-Roseville-Folsom, Calif.
|
33.9 %
|
31.7 %
|
61
|
6
|
13.5 %
|
2.1 pp
|
|
San Antonio-New
Braunfels, Texas
|
15.5 %
|
-2.5 %
|
78
|
3
|
20.9 %
|
-0.7 pp
|
|
San Diego-Chula
Vista-Carlsbad, Calif.
|
44.5 %
|
15.9 %
|
51
|
8
|
12.7 %
|
2.7 pp
|
|
San
Francisco-Oakland-Fremont, Calif.
|
23.9 %
|
21.3 %
|
56
|
7
|
8.1 %
|
1.1 pp
|
|
San
Jose-Sunnyvale-Santa Clara, Calif.
|
19.4 %
|
20.6 %
|
44
|
2
|
6.0 %
|
0.8 pp
|
|
Seattle-Tacoma-Bellevue, Wash.
|
31.5 %
|
24.7 %
|
62
|
3
|
11.8 %
|
3.9 pp
|
|
St. Louis,
Mo.-Ill.
|
10.0 %
|
2.3 %
|
62
|
3
|
12.3 %
|
-1.1 pp
|
|
Tampa-St.
Petersburg-Clearwater, Fla.
|
27.4 %
|
11.8 %
|
70
|
6
|
24.8 %
|
-0.2 pp
|
|
Tucson,
Ariz.
|
45.0 %
|
22.9 %
|
64
|
10
|
18.4 %
|
-0.7 pp
|
|
Virginia
Beach-Chesapeake-Norfolk, Va.-N.C.
|
22.2 %
|
6.9 %
|
52
|
3
|
17.1 %
|
2.5 pp
|
|
Washington-Arlington-Alexandria, DC-Va.-Md.-W.
Va.
|
35.9 %
|
8.9 %
|
52
|
-1
|
9.1 %
|
-0.1 pp
|
Methodology
Realtor.com housing data as of
January 2025. 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-202301) and Claritas 2025 estimates of
household counts. With the release of its January 2025 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 January 2025 will not be directly comparable with
previous data releases (files downloaded before January 2025) 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/the-new-year-brings-more-inventory-to-the-market-302363699.html
SOURCE Realtor.com
