The first half of 2024 saw a dramatic increase in listings (75%!), while home values stayed flat. Sales volume decreased 5%, indicating many buyers are waiting for interest rates to drop. The number of days on market will continue increasing as inventory surges amid low sales volume.
As we head into the second half of 2024, we expect home values to decrease 4%-5%, sales volume to stay low, and inventory and days on market to both increase.
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