Here Comes the Housing Inventory as Sales Plunge: Active Listings Explode in Tampa, Orlando, Denver, San Diego, Jacksonville, Miami and Surge in Other Metros

by Wolf Richter
Wolf Street

Listing prices in June flat YoY and below June 2022. Mortgage rates still at 7%. Prices way too high. Something has to give.

New listings of homes for sale have been rising, in June by 6.3% year-over-year, but that’s not huge; what’s huge is that sales have plunged in a historic way because buyers remain on strike as prices are way too high, and the new listings pile on top of the active listings still on the market before they get pulled, and so active listings across the US jumped by 36.7% year-over-year in June, to 840,000 listings, the highest since and just a hair below June 2020.

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