The past year – and especially the summer – has been a frantic race for housing markets. But there are growing signs of a return to normal.
For example, we recently identified “10 markets where house prices could fall by 20%” and a new Realtor.com analysis points to many markets where the number of homes for sale is increasing rapidly.
Here’s a look at the places that have seen the biggest increases in home inventory over the past year.
Increase in active home listings between July 2021 and July 2022: 158.7%
The inventory of houses continues to expand in the Valley of the Sun. It probably helps that the city is among the “10 markets with the most canceled home sales” — perhaps because buyers are becoming more discerning and patient as the options open up and the competition wanes.
Increase in active home listings between July 2021 and July 2022: 154.5%
As the saying goes, everything is bigger in Texas. This is true not only for the number of houses for sale, but also for their prices. Austin remains a very overvalued housing market, we recently reported.
3. Raleigh, North Carolina
Increase in active home listings between July 2021 and July 2022: 137.5%
Opportunities for home buyers are booming in Raleigh. And there seems to be a lot of work to do too. The North Carolina capital was among the “15 cities with the most job gains in 2021”.
Here are the other cities that are seeing the biggest percentage increase in the number of active real estate listings:
- Nashville, TN: 121.9%
- Seattle: 103.8%
- Tampa, Florida: 91.9%
- Vegas: 83.3%
- Dallas: 81.2%
- Riverside, California: 76.5%
- Sacramento, California: 72.3%
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