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Latest Housing Trends & Insights for March 2023

The number of homes for sale has increased by 67.8% compared to last year.

There were 67.8% more homes for sale in February compared to the same time in 2022. This means that there were 234,000 more homes available to buy this past month compared to one year ago. While the number of homes for sale is increasing, it is still 47.4% lower than it was before the pandemic in 2017 to 2019, nationwide.

Home sellers are less active this year, with 15.9% fewer homes being listed for sale compared to last year.

In February, the number of homes newly-listed for sale declined by 15.9% compared to the same time last year. This is a higher rate of decline than last month’s 10.4% decrease but it’s still an improvement from the declines seen in November and December. However, new listings remain 27.0% below pre-pandemic 2017 to 2019 levels.

The median price of homes for sale has increased by 7.8% annually in February, lower than January’s growth rate.

The national median list price grew to $415,000 in February, up from $406,000 in January. However, it is down from a record high of $449,000 in June (-7.6%). This median list price represents a yearly growth rate of 7.8%, which is lower than January’s 9.7% growth rate. 

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