Single Detached
Months of inventory for single detached homes numbered 7.8 at the end of the second quarter of 2024, up from the 3.4 months recorded at the end of the second quarter of 2023. This was the highest 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.
Despite a more balanced market, homes spent less time on the market in the second quarter of 2024 than they had a year earlier.
The median number of days on market for sold single detached homes was 41 in the second quarter of 2024, down from 50 days in the second quarter of 2023.
