Overview

• National listing price growth slowed to just 0.5% year-over-year in July while active listings jumped 24.8% and new listings increased 7.3%.
• Delistings surged 47% year-over-year in May as sellers pull listings rather than accept lower offers.
• Five major metros—Austin, Miami, Chicago, Los Angeles and Denver—saw list prices decline by 4–5% in July.
• New-construction listings now make up about 21% of all homes for sale in the South, and the premium for newly built homes dropped to a record low of 7.8%.
• Mortgage rates holding near 7% continue to constrain affordability even as buyer-friendly conditions emerge in supply-rich regions.