The Number of Active Housing Listings Hit An All Time Low During The Last Week of November

It’s official – housing inventory in America is at a crisis level. The number of active listings hit an all-time low during the week ending November 28, according to a Redfin report published on Wednesday.

During the four week period ending November 28, the number of active listings was a 23% decrease compared to the same time period in 2020 and a 42% drop compared to 2019. The number of new listings was also down compared to 2020, dropping 4%, but it was 12% higher than the number of new listing during the same time period in 2019.

“The number of homes for sale typically declines another 15% in December,” Daryl Fairweather, Redfin chief economist said in a statement. “That means that by the end of the year, there will likely be 100,000 fewer homes for sale than there were in February when housing supply last hit rock bottom. I think more new listings will hit the market in the new year, but there will also be a long line of buyers who are queuing up right now.”

https://www.realtrends.com/housing-inventory-has-never-been-lower/#:~:text=The%20number%20of%20active%20listings,42%25%20drop%20compared%20to%202019

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