Single Detached
Months of inventory for single detached homes numbered 2.6 at the end of the second quarter of 2023, down from the 3.7 months recorded at the end of the second quarter of 2022. This was the lowest level of months of inventory ever recorded in a second quarter.
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.
With a tighter market, homes spent less time on the market in the second quarter of 2023 than they had a year earlier.
The median number of days on market for single detached homes was 36 in the second quarter of 2023, down slightly from 38.5 days in the second quarter of 2022.
