Single Detached
Months of inventory for single detached homes numbered 2.8 at the end of the third quarter of 2023, up from the 2 months recorded at the end of the third quarter of 2022.
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 third quarter of 2023 than they had a year earlier.
The median number of days on market for single detached homes was 14 in the third quarter of 2023, down slightly from 16 days in the third quarter of 2022. This was the lowest median number of days on market for single detached homes ever recorded in a third quarter.
