New Listings are Increasing in the United States, with Denver, Colorado in the Lead

Home buyers will have more options as more inventory becomes available for home buyers across the United States compared to last year with Denver, Colorado experiencing the highest year-over-year jump in new listings for January 2024, according to the recent Realtor.com report. 

Compared to January 2023, active listings across the United States increased by 7.9%, and new listings were up by 2.8% year-over-year, with more than half of the 50 largest metropolitan areas noting an annual increase.  

Out of those cities analyzed in the report, Denver, Colorado had the highest percentage of new listings in January, increasing by 21.3% year-over-year. Also experiencing notable increases in new listings for January 2024 were both Seattle and Miami at just over 20% each. 

While most cities experienced an annual increase in their new listing inventory, some cities experienced the opposite. According to the report, Chicago noted 16.4% fewer new listings this January, compared to last year. New Orleans and Philadelphia also had notable decreases in their new listings year-over-year.

Overall, this means real estate markets across America could be shifting as we enter spring according to Realtor.com. 

“We’re at a turning point… This could be a sign that the market is opening up, and we could see more people moving and [buying and selling] this spring.” Reports Chief Economist for Realtor.com, Danielle Hale. 

Sources:
January 2024 Monthly Housing Market Trends Report – Realtor.com
‘We’re at a Turning Point’: Is the Housing Market Finally Thawing—or Is Another Deep Freeze To Come? – Realtor.com