Sellers Inch Back Into the Market This January

• The number of homes actively for sale continues to be higher compared to last year, growing by 24.6%, a 15th straight month of growth.

• The total number of unsold homes, including homes that are under contract, increased by 17.1% compared with last year.

• Home sellers came back to the market in January, increasing newly listed homes by 10.8% over the same time last year. Newly listed homes increased by 37.5% compared with last month, the largest December to January increase in our records since January 2020.

• The median price of homes for sale this January was down 2.2 percent compared with last year, at $400,500. However, more small homes are being listed this year, which decreased the median list price relative to last year. Meanwhile, the median list price per square foot, which controls for size, grew by 1.2%, indicating that home values continue to increase.

• Homes spent 73 days on the market, the slowest January since 2020. This is five days more than last year and three more days than last month.

• The share of listings with price cuts grew once again compared with last year, with 15.6% of sellers cutting prices in the month of January,  up from 14.7% in January 2024.

According to the Realtor.com® January housing data, more homes are being newly listed on the market despite higher mortgage rates seen in recent months. Time and natural turnover could be leading some sellers to make a move this year despite higher rates. Meanwhile, listing prices continue to grow, although more small homes available means the nation’s median list price is lower than last year.