As we step into the new year, the real estate market in January 2024 exhibited notable trends and shifts, revealing a dynamic landscape for both buyers and sellers. Let’s delve into the key statistics that shape the current state of the housing market.

Active Listings Surge: In January 2024, Realtor.com reported a total of 665,569 active listings, reflecting an impressive 8% increase compared to the same month in 2023. This surge in active listings is even more pronounced, boasting a remarkable 25% rise when contrasted with the housing boom times of January 2021, when homes were flying off the market so swiftly that they weren’t even registering as inventory.

Yet, a Glimpse at the Past: Despite the recent upswing, it’s crucial to note that the current inventory levels are still trailing behind pre-pandemic figures. January 2024’s active listings are staggering 40% below the levels recorded in January 2019, a period when the market showcased robust health with 1,110,636 U.S. homes available for sale.

Seller Momentum and Listing Activity: Providing a much-needed boost to overall inventory, sellers have notably increased their presence in the market. Newly listed homes in January 2024 saw a 2.8% uptick from the previous year, marking the third consecutive month of increasing listing activity. This positive trend follows a 17-month streak of decline, signifying a potential shift in the market dynamics.

Comparing Growth Rates: While this month’s improvement is undoubtedly encouraging, it’s interesting to note that the growth rate of 2.8% is slightly lower than the previous month’s impressive 9.1% surge. The varying growth rates underscore the nuanced nature of the real estate market, where fluctuations can be influenced by a multitude of factors.

In conclusion, January 2024 paints a picture of a real estate market that is gradually rebounding from previous declines. The increased number of active listings, coupled with a rise in seller participation and consecutive months of growing listing activity, suggests a positive trajectory for the housing sector. As we navigate the coming months, keeping a close eye on these trends will be essential for both buyers and sellers looking to make informed decisions in this ever-evolving market.