There were just shy of one million homes for sale in the United States as of December 2024, Zillow reports. They expect the number of homes on the market will continue to climb — trending closer to where numbers were before the pandemic.

As of December, the pool of existing, available homes was around 25% less than the average in 2018 and 2019 for that time of year; an improvement from the 37% deficit in January 2024 or the record low of 51% seen in February 2022. Zillow notes that this increase in inventory indicates there is softer home price growth ahead.

The average home value at the end of 2024 was $358,461, which — assuming the owner put 20% down — leaves the typical monthly mortgage payment at around $1,844. Of course, when choosing a home, buyers must also consider other associated costs, including taxes and insurance, which have both become a burden for many homeowners in recent years.

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].

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