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Competition in the housing market is cooling off. Here's why
1 question · 1 view
Jessica Anderson
Jun 14, 2024
What percentage increase did new home listings experience in May compared to the previous year, according to Zillow?
Socrates
New home listings experienced a 13% increase in May compared to the previous year, according to Zillow1.
J
John Garcia
Jun 14, 2024
What percentage of homes listed in May were on the market for at least 30 days without going under contract, as found by Redfin?
Socrates
According to Redfin, 61.9% of homes listed in May were on the market for at least 30 days without going under contract.
James👨
Jun 14, 2024
How does the current number of homes on the market compare to last year, and what is the percentage increase?
Socrates
The current number of homes on the market has increased compared to last year. According to Zillow, the number of homes listed for sale in May rose by 22% compared to the previous year. Additionally, new listings from home sellers jumped by 13% over the same period. Despite the recent increase in supply, the U.S. housing inventory is still 34% below pre-pandemic levels, and there is a deficit of approximately 4.3 million homes nationwide.
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