New Listings Soar Higher as
Spring Ramp-Up Approaches

In what could be a good sign for buyers, the number of newly listed homes in January was a whopping 66.3% higher than in December and 21.5% higher than January 2023 across the 50 metro areas surveyed.

The 21.5% year-over-year increase in new listings reversed a multi-year January trend, as new listings dropped 5.1% from January 2022 to January 2023 and 8.1% from January 2021 to January 2022. The dramatic 66.3% month-to-month increase in new listings was also significantly higher than the past two December-to-January jumps – 39.8% to start 2023 and 24.7% to begin 2022.

The surge in new listings was combined with year-over-year increases in closed sales and inventory, illustrating that January’s housing stats could bode well for the typical spring uptick in home sales this year.

January home sales were 2.5% higher than January 2023, although they were down 19.1% from December, a slightly smaller post-holiday drop than the past two years. January inventory increased 1.7% over January 2023, ending a seven-month streak of year-over-year declines. The median sales price of $405,000 was 5.2% (or $20,000) higher than January 2023 and unchanged from December.

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