Weekly Real Estate News
January saw a month-over-month spike in new listings, up 53.7% over December, although on a year-over-year measurement the level was down by a scant 0.1%, according to the latest national housing report from RE/MAX Holdings (NYSE: RMAX). Inventory last month was up 5% from December and was 30.9% higher than January 2024.
The markets with the biggest year-over-year increase in new listings percentage were Seattle (+32.9%), Anchorage (+29.0%), and Des Moines (+28.4%). The markets with the biggest decrease in year-over-year new listings percentage were Bozeman, Montana (-31.9%), Milwaukee (-29.3%), and St. Louis (-28.1%). Burlington, Vermont, experienced one of the biggest year-over-year increases in active inventory, shooting up 64.1% — but it also had some of the lowest active inventory levels of the 52 metros surveyed at 320.
January’s overall number of home sales was up 6.0% year-over-year – this marked the fourth consecutive month of annual increases in home sales – although sales were also down 24.3% month-over-month. The median sales price of $422,000 was down 1.8% from December but up 5.3% – or approximately $21,000 – from January 2024. Buyers paid 98% of the asking price in January, the same as both the prior month and one year earlier.
“This is about what we expected,” said RE/MAX Holdings CEO Erik Carlson. “January is typically a quiet month due to the winter weather and the holidays wrapping up, but the market remained relatively active – with home sales 6% higher than last year. Buyers who needed to move took advantage of the increased inventory, and sellers benefited from having motivated buyers out there looking at homes.”
