U.S. Average Monthly Number of Active Listings Annual Average Monthly Listing Inventory since 2017*
1,801,667
1,764,167
1,741,667
1,800,000
Compared to the average monthly number of active listings in 2017-2019 – before the pandemic boom began – the number of homes on the market in 2023 was down approximately 40%.*
1,600,000
1,425,833
1,400,000
1,147,500
1,200,000
1,097,500
1,057,583
1,000,000
800,000
Spring 2020: Pandemic hits
Spring 2022: Interest rates soar
600,000
400,000
The number of active listings is affected by 1) how many new listings come on market, 2) how quickly buyers purchase them, 3) the sustained heat of the market over time, and 4) the number of homes removed from the market without selling.
200,000
0
2017
2018
2019
2020
2021
2022
2023
*Data copyright, National Association of Realtors®. All rights reserved. Used with permission. Existing Home Listings, not seasonally adjusted: single-family dwellings, condos, co-ops. December 2023 number estimated using trend data through November 2023. Data from sources deemed reliable but may contain errors and subject to revision.
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