When assessing home price momentum, it's important to monitor active listings and months of supply. A rapid increase in active listings may indicate potential future pricing weakness.
Local housing markets where active inventory has returned to pre-pandemic levels have generally experienced softer home price growth or outright price declines over the past 24 months.
National active listings are on the rise, up 34% between September 2023 and September 2024; however, we're still well below pre-pandemic levels.
In Florida, the biggest inventory increases in the past two years were concentrated in sections of Southwest Florida, affecting market dynamics due to Hurricane Ian's impact.
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