US Housing Market State Level Report March 2024

This report provides an analysis of the US housing market at the state level for March 2024. It outlines the trends in net new listings and contract volumes, indicating a slow start to the spring buying season due to ongoing inventory pressures. The report details that net new listing volume decreased by 4.4% compared to March 2023, while contract volume increased by 3.2%. It highlights the impact of interest rate fluctuations on buyer activity and inventory levels, noting that although total inventory rose by 12.6% from the previous year, it remains low historically. The report also presents median prices for single-family listings and rentals, showing year-over-year increases. Additionally, it breaks down contract and listing volumes by price tiers, revealing varied trends across different segments of the market. The methodology for data collection is also briefly described, emphasizing the use of public records and multiple listing services to ensure comprehensive coverage.