Most For-Sale Home Listings Sit On Market Since 2020

May 27, 2024 - 2 min read

Good news for home buyers

The deficit between home buyer demand and the supply of for-sale homes has kept the housing market askew for years.

However, inventory is making strides and, in turn, bringing more balance with it. In May, the number of homes listings climbed to the highest point since August 2020, according to

Even better, some of the largest inventory gains came in comparatively inexpensive cities and relatively affordable price tiers.

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Home listings hit milestone in May

It’s a sight for the sore eyes of prospective borrowers. On the week ending May 11, the total active home listings rose to the highest point in nearly four years.

That culminated after 27 consecutive weeks of annual inventory growth, said Hannah Jones, senior economic research analyst at Active listings stood 35% higher from the year prior. Year-to-date, they jumped 21.1% annually. However, the amount of listings lags the same week in 2019 by 36.6%.

With the lock-in effect of yesterday’s low mortgage rates fading and home builder confidence gradually growing, signals point to increased options for house hunters in the coming months.

New listings — sellers who put their properties up for sale — also boosted the overall count, growing 6.6% annually. They’ve seen a 10.1% year-to-date annual increase through May 11.

“New listing activity will continue to be influenced by mortgage rate movement, but cooling labor market and inflation data could mean things are moving in the right direction,” said Jones.

The table below shows the year-over-year listing trends, according to

Week ending May 11, 2024Year-to-date
Median listing prices0.0%0.2%
New listings6.6%10.1%
Active listings35.0%21.1%
Time on market1 day slower2 days faster

The bottom line for home buyers

The scarcity of available homes for sale hurt affordability and sidelined many house hunters.

Though, the tide appears to be turning in favor of would-be home buyers. If you’re in the market to to purchase a home, bolster your chances by being prepared. You should also learn how to negotiate your interest rate and see what down payment and closing cost assistance you could qualify for.

Talk with a local mortgage professional if you’re ready to start your path to homeownership.

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Paul Centopani
Authored By: Paul Centopani
The Mortgage Reports Editor
Paul Centopani is a writer and editor who started covering the lending and housing markets in 2018. Previous to joining The Mortgage Reports, he was a reporter for National Mortgage News. Paul grew up in Connecticut, graduated from Binghamton University and now lives in Chicago after a decade in New York and the D.C. area.
Aleksandra Kadzielawski
Reviewed By: Aleksandra Kadzielawski
The Mortgage Reports Editor
Aleksandra is the Senior Editor at The Mortgage Reports, where she brings 10 years of experience in mortgage and real estate to help consumers discover the right path to homeownership. Aleksandra received a bachelor’s degree from DePaul University. She is also a licensed real estate agent and a member of the National Association of Realtors (NAR).