Homebuyers have had fewer houses to choose from than they did before the COVID-19 pandemic—even though active listings were up by more than 36% in July. But some places are bucking the trend.
A dozen metros among the top 50 largest areas saw higher housing stock levels compared with typical 2017 to 2019 levels in July, according to the monthly housing report from Realtor.com®. These outliers suggest certain regions are recovering more robustly—and offering more opportunities for homebuyers in those areas.
“While inventory this July is much improved compared with the previous three years, it is still down 30.6% compared with typical 2017 to 2019 levels,” says Realtor.com senior economist Ralph McLaughlin in his analysis.
The disparity in listing levels underscores the long-term effects of the pandemic on housing availability, despite the recent improvements.
But with some U.S. regions seeing more listings, this is welcome news for those buyers, McLaughlin adds.
“It typically means more choice, more time, and, if large enough, more price cuts,” he says.
This positive shift could eventually lead to a more balanced market and offer relief for buyers who have faced intense competition and rising home prices in recent years.
Looking for a wide variety of available homes? These 12 metros saw a jump in housing stock above prepandemic levels in July.
1. Austin, TX
Jump in housing stock: 35.5%
Median list price: $539,530
Why Austin? With a plethora of tech companies, Austin has a strong job market. Lots of workers flooded Austin during the pandemic; but now that fewer new workers are moving in, there are more housing opportunities.
The city—home of South by Southwest and the Austin City Limits Music Festival—has a lively music scene and a vibrant nightlife. The Texas state capital also boasts a fantastic foodie culture and lots of outdoor recreation.
(Realtor.com)
2. San Antonio, TX
Jump in housing stock: 34.3%
Median list price: $349,898
Why San Antonio? The Texas city has a large military presence and offers residents abundant employment opportunities. The area is home to two iconic attractions: the San Antonio River Walk and the Alamo. Texas has no state income tax, so you can get more bang for your buck there.
(Realtor.com)
3. Denver, CO
Jump in housing stock: 26.7%
Median list price: $627,450
Why Denver? Denver is a nature-lovers paradise. It’s a scenic city with beautiful mountain peaks, trails, and waterfalls just a short drive away. And you’ll never go thirsty in the Mile High City since it’s famous for its amazing coffee shops and breweries. And with 300 days of sunshine per year, Denver’s weather is another major perk.
(Realtor.com)
4. Tampa, FL
Jump in housing stock: 18.8%
Median list price: $424,950
Why Tampa? This Sunshine State city enjoys access to beautiful beaches and plenty of outdoor activities. It’s also a phenomenal town for sports enthusiasts, as the home of the Tampa Bay Buccaneers and several other professional teams.
(Realtor.com)
5. New Orleans, LA
Jump in housing stock: 13.9%
Median list price: $329,000
Why New Orleans? The Mardi Gras mecca is a magnificent city celebrated for its colorful history and diverse culture. Everywhere you turn, there are sublime food options—including the city’s trademark Cajun and Creole creations. And because New Orleans is the birthplace of jazz, the live music scene in the French Quarter is unmatched.
(Realtor.com)
6. Dallas, TX
Jump in housing stock: 12.7%
Median list price: $450,000
Why Dallas? This city boasts a thriving job market and an affordable cost of living. Plus, the nightlife is electric, with its cool bars, high-end restaurants, and lively dance clubs. It’s also a diehard sports town that unwaveringly supports its home team, the world-famous Dallas Cowboys.
(Realtor.com)
7. Nashville, TN
Jump in housing stock: 12.6%
Median list price: $568,900
Why Nashville? The “Music City” boasts a low cost of living, particularly when compared to other major cities, and has no state income tax. Nashville’s job market is flourishing. But it’s not all work and no play—the area’s incredible restaurants, exciting nightlife, and country music scene offer nonstop entertainment.
(Realtor.com)
8. Orlando, FL
Jump in housing stock: 12.5%
Median list price: $442,241
Why Orlando? An ideal home base for those who crave year-round sunshine, the city also has a very strong job market with plentiful employment. And because theme parks abound, there’s always something to do, and tourism is booming.
(Realtor.com)
9. San Francisco, CA
Jump in housing stock: 10.0%
Median list price: $973,875
Why San Francisco? The beautiful City by the Bay has certainly had recent challenges, but it still boasts countless amenities. With a spectacular public transportation system, remarkable green spaces, and diverse neighborhoods, San Francisco continues to be the epicenter for all things tech—and job opportunities abound. The city is also a hub of professional sports, amazing bakeries, and international cuisine, plus a spirited bar scene.
(Realtor.com)
10. Jacksonville, FL
Jump in housing stock: 7.5%
Median list price: $419,000
Why Jacksonville? Look no further than the breathtaking white-sand beaches. The Atlantic shore is the perfect place to enjoy boating, kayaking, and surfing. The city also has a thriving economy, and job opportunities are abundant.
(Realtor.com)
11. Seattle, WA
Jump in housing stock: 7.4%
Median list price: $779,975
Why Seattle? Some of the world’s biggest tech companies, including Amazon and Microsoft, are in Seattle. That makes for lots of interesting career opportunities. Plus, the Puget Sound region offers countless pursuits for outdoor enthusiasts.
(Realtor.com)
12. Memphis, TN
Jump in housing stock: 4.1%
Median list price: $347,175
Why Memphis? The birthplace of the blues offers minimal traffic, shorter commutes, and a low cost of living. And the dining options in Memphis are next-level indulgent—especially the famed soul food and barbecue. Meanwhile, Elvis Presley‘s Graceland is just 10 minutes from downtown.
(Realtor.com)
