Number of US homes on the market rose in 2019
Homebuyers in Salt Lake City, Atlanta and other big U.S. metropolitan areas are seeing a pickup in the number of homes for sale, especially in the most affordable segment of the market.
In Atlanta, for example, the number of homes for sale jumped 18.9% to 33,836 in the first quarter. That’s the first annual increase in two years.
Overall the U.S. inventory of homes in the bottom third of the market by price rose 3.5%, the fastest annual growth rate in at least six years, according to an analysis of the nation’s 100 largest metropolitan areas by real estate data tracker Trulia.
More homes on the market offer some relief for buyers who have been facing a stubborn shortage of properties for sale. The trend is most encouraging in markets like Atlanta, where new home listings are driving the growth in supply. That’s not the case in Los Angeles, Seattle and other cities where prices have risen rapidly. In these markets, new listings have declined, but the number of homes for sale is up because properties are sitting on the market longer.