When mortgage rates are high, inventory is expected to grow significantly; however, with recent drops in rates, growth has not hit forecasted levels this year.
As we approach the traditional seasonal decline for active inventory, the numbers look healthier for 2024, inching closer to pre-pandemic inventory levels.
This week's inventory growth of 5,721 offers a contrast to previous years as 2023 saw historically low levels of active listings.
While 2024 showcases positive growth trends in inventory, the housing market still yearns for more new listings compared to height periods in the past.
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