Home inventory in major U.S. metros surpasses pre-pandemic levels
ResiClub co-founder and editor-in-chief Lance Lambert addresses mounting concerns about the housing market on ‘Making Money.’
Housing inventory in a significant number of major metropolitan areas hit levels higher than they were before the COVID-19 pandemic, according to a new report from Realtor.com.
The real estate marketplace said nearly half of America’s 50 largest metros had real estate markets whose number of active listings as of May had surpassed pre-pandemic levels.
The ten metro areas that had the largest jumps in active inventory from their averages in 2017-2019 all posted double-digit percentage increases, according to Realtor.com.
Eight states had representation among the ten areas that Realtor.com identified as having the “most dramatic improvement in active inventory,” with Texas claiming three spots within the top-five.
Denver, Colorado
Aerial view of Denver skyline and state capitol dome at sunset. (oe Sohm/Visions of America/Universal Images Group via Getty Images / Getty Images)
Denver stood out as the metro with the largest increase in active housing inventory from pre-pandemic levels, seeing a 100% jump, the report said. Realtor.com linked the surge in inventory to factors like increased construction and the time homes remain on the market. The city serves as the capital of the Centennial State.
Austin, Texas
In an aerial view, the downtown skyline is seen on April 11, 2023 in Austin, Texas. The city of Austin has been ranked as the top destination of U.S. job markets for the second consecutive year, according to data collected by The Wall Street Journal. ((Photo by Brandon Bell/Getty Images) / Getty Images)
Austin is located in Central Texas. Inventory in the metro was up 69% in May from where it stood before the COVID-19 pandemic, according to Realtor.com
Seattle, Washington
SEATTLE, WA – NOVEMBER 4: The sun sets on the Space Needle and downtown skyline as viewed at dusk on November 4, 2015, in Seattle, Washington. Seattle, located in King County, is the largest city in the Pacific Northwest, and is experiencing an econo (Photo by George Rose/Getty Images / Getty Images)
The real estate marketplace pegged Seattle’s change in active inventory at 60.9%. More than 780,000 people call the city home, according to the U.S. Census Bureau.
Dallas-Fort Worth, Texas
Skyline of downtown Dallas, TX on a partly cloudy day. (Photo by: HUM Images/Universal Images Group via Getty Images) (HUM Images/Universal Images Group via Getty Images / Getty Images)
In the Dallas-Forth Worth area, inventory rose 55.5% from pre-COVID, the report said. Homes in the Dallas-Fort Worth-Arlington area carried a median price of $440,000 in May.
San Antonio, Texas
SAN ANTONIO, TEXAS – DECEMBER 11, 2018: A skyline view in downtown San Antonio, Texas. (Photo by Robert Alexander/Getty Images) (Robert Alexander/Getty Images /…
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