1104 ET - Despite higher mortgage rates, January saw a significant rise in seller activity with newly listed homes increasing by 37.5% month-over-month, according to Realtor.com. Sacramento, Phoenix, and Seattle led with the highest year-over-year increases in new listings. Nationally, new listings were up 10.8% from last year, the highest January level since 2021. The share of homeowners with mortgage rates under 6% dropped to 83% from 88% last year, and is expected to fall to 75% by year-end per Realtor.com's forecast. Inventory also grew for the 15th consecutive month, with a 24.6% increase in active listings compared to January 2024. Denver, Las Vegas, and Tucson saw the highest increases in active listings year-over-year, while New York, Hartford, and Milwaukee experienced the lowest growth in active listings year-over-year. (chris.wack@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 11:04 ET (16:04 GMT)
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