Housing Inventory Surges to Post-Pandemic High in July

House hunting remains challenging due to low affordability and inventory, but signs of recovery are emerging. Active home listings increased by 36.6% annually in July, reaching 884,273, marking the ninth consecutive month of year-over-year growth. The South experienced the highest growth at 47.6%. While the median time listings spent on the market rose to 50 days, the share of listings with price reductions also increased to 18.9%. More for-sale options could lead to lower prices for buyers in 2024.