The national inventory of single-family homes may have already hit its highest point for the year, with 861,000 homes. There are as many new listings as there were last year, but it takes sellers 45 to 50 percent longer to sell than it did in 2024. Demand is steady but not very strong, and the number of pending sales is about the same as it was last year. Prices are going down right now. The price per square foot is lower than it was in 2024, and 42% of listings have lowered their asking price. This is the highest rate for August in over a decade.
Mike Simonsen, the Chief Economist, uses data from Altos Research and Compass to break down these trends in real time. This helps buyers and sellers make smart, confident choices in a market that is always changing.
In today's housing market, buyers and sellers need to stay up to date on real-time data. You can make better decisions about buying or selling a home if you know how inventory changes, prices drop, and demand rises.
