Major Metro home inventory in the US exceeds pre-pandemic levels
Resiclub co-founder and editor-in-chief Lance Lambert is working on mounts of concerns about the housing market regarding “making money.”
A new report from Realtor.com shows that housing inventory in a considerable number of major metropolitan areas has reached a higher level than before the Covid-19 pandemic.
The real estate market said almost half of the largest metros in America had Real Estate Market As of May, the number of active listings was above pre-pandemic levels.
All 10 metro areas, which have the largest jump in active inventory from the average to the average, increased by double digits. According to Realtor.com.
Eight states represent within the 10 areas that Realtor.com has identified as having “the most dramatic improvements in active inventory,” and Texas claims three spots within the top five.
Denver, Colorado
Aerial view of the Denver skyline and the dome of the State Capitol at sunset. (OE SOHM/Visions of America/Universal Images Group by Getty Images/Getty Images)
Denver stands out as a metro with the biggest increase in active home stocks from pre-pandemic levels, seeing a 100% jump, the report says. Realtor.com linked the surge in stock to factors such as increased construction and time homes on the market. Cities act as capitals Centennial State.
Austin, Texas
Aerial views will show the downtown skyline in Austin, Texas on April 11, 2023. Data collected by the Wall Street Journal shows that Austin has been ranked as the top destination in the US job market for the second year in a row. ((Photo: Brandon Bell / Getty Images) / Getty Images)
Austin is located in central Texas. Metro stocks in May rose 69% from where they stood before the Covid-19 pandemic in May, according to Realtor.com.
Seattle, Washington
Seattle, Washington – November 4: The sun sets over the space needle and downtown skyline as seen at dusk in Seattle, Washington on November 4th, 2015. Located in King County, Seattle is the largest city in the Pacific Northwest and experiences econo (Photo: George Rose / Getty Images / Getty Images)
The real estate market has locked the Seattle active inventory changes at 60.9%. More than 780,000 people call the city home, according to the US Census Bureau.
Dallas and Fort Worth, Texas
Downtown Dallas, Texas skyline on a partially cloudy day. (Photo: Hum Images/Universal Images Group Getty Images Group) (Hum Images/Universal Images group via Getty Images/Getty Images)
in Dallas Forthworth Areainventory rose 55.5% from before Covid, the report said. Dallas-Fort Worth Arlington area homes achieved a median price of $440,000 in May.
San Antonio, Texas
San Antonio, Texas – December 11, 2018: Skyline view in downtown San Antonio, Texas. (Photo by Robert Alexander/Getty Images) (Robert Alexander/Getty Images/Getty Images)
San Antonio’s active inventory recorded a jump of 58.3% from pre-pandemic levels per Realtor.com.
The metro areas in San Francisco, Nashville, Orlando, Las Vegas and Toscon concluded Realtor.com’s top 10 when it came to winning “biggest profits” on stocks. According to the real estate market, the pandemic has risen compared to the 53.5% in San Francisco and the 23% in Tuscon.
Top 5 buyer-friendly markets offer price reductions and inventory growth
“In general, we’re seeing a strong inventory reboard in the metros that have built more over the last six years,” Daniel Hale, Chief Economist at Realtor.com, said in a statement. “This milestone is the importance of enabling home construction and Residential conditions across regions where some markets are fast normalising and others are stuck with low supply dynamics. ”
According to Realtor.com, the national housing market appears to be “buyer friendly.”
The US had over a million homes on the market in May. This is a level that the US has not risen above since the winter of 2019, another report from Realtor.com found.
Small real estate investors reach record market share and control 59% of investors’ purchases
In March, the real estate market said the US was fighting the supply gap of about 3.8 million homes.
Supply and affordability have been two major issues that many home buyers have dealt with in recent years.