The NAR settlement changes have not meaningfully impacted housing data as buyers adapt to new rules. Inventory grew by 6,271, reflecting a normal market response.
Despite expectations of delays due to NAR settlement changes, the housing inventory has remained stable, with recent data showing slight growth compared to last year.
Mortgage rates dropping has resulted in a slowdown of inventory growth, aligning with my hypothesis that higher rates generally stimulate more inventory due to lower demand.
With the traditional seasonal decline in new listings, 2024 still marks the second-lowest new listing year historically, yet we are seeing positive growth from 2023.
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