Single Detached
Months of inventory for single detached homes numbered 5.2 at the end of the first quarter of 2024, unchanged from the 5.2 months recorded at the end of the first quarter of 2023.
The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
Despite an equally balanced market, homes spent more time on the market in the first quarter of 2024 than they had a year earlier.
The median number of days on market for single detached homes was 52.5 in the first quarter of 2024, up from 40 days in the first quarter of 2023.
