Summary
New home listings in the U.S. have experienced the largest drop in two years, with both buyers and sellers stepping back from the market. Recent data shows a decline in pending home sales and new listings as affordability issues continue to affect the housing market.
Key Facts
- New home listings in the U.S. fell 1.7% year-over-year during the four weeks ending December 7.
- Pending home sales dropped 4.1% from a year earlier in the same time frame.
- The median sale price of a U.S. home in October was $439,917, a 1.3% increase from the previous year.
- Significant declines in new listings were noted in cities like San Antonio, Texas, and Tampa, Florida.
- In Florida, the median home price in October was $408,500, a slight decrease from October 2024.
- Texas saw the median home price at $341,500, also a slight decrease from October 2024.
- Delisting of homes increased by 45.5% across the U.S. in October since the start of the year.
- The average 30-year fixed mortgage rate was 6.36% as of December 10.
