Zillow reported that nationwide active inventory was up 22% year over
year in August, although it remained 31% lower than the pre-pandemic
level of August 2019. Meanwhile, new listings grew slightly monthly and
yearly but were 21% lower than the same month in 2019.
In a separate report, Zillow reported that unlike at the height of the
rate hikes, when renting was cheaper than buying, the opposite is true
in 22 of the 50 largest U.S. metros. New Orleans, Chicago, and
Pittsburgh offer the most significant savings when comparing the cost of
rent to a mortgage payment, assuming that the buyer purchases
conventionally with a 20% down payment.
Keep reading the article here: https://www.biggerpockets.com/blog/fall-housing-market-outlook
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