Data from Realtor.com’s August Housing Trends Report included some good news for would-be homebuyers. Property sales slowed, turning in their first year-over-year increase in days on the market since June 2020.

Homes stayed on the market five days longer for a total of 42 days. Buyers also had more inventory to consider when compared to 2021 numbers, as homes for sale climbed more than 26%. While listing prices increased by double digits, the overall sales pace did slow for the third consecutive month. Ultimately, the median listing price reached $435,000 nationwide, nearly 37% higher than in August 2019.

Credits: Mark Sanders
Mortgage Consultant
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