Housing inventory is rebounding across the U.S., with 78 of the top 100 largest metro areas showing year-over-year growth in active listings. According to Realtor.com, housing supply in April 2024 was up 30.4% compared to the same time last year, signaling a notable shift that may offer buyers more options and potentially slow price increases. At the national level, home inventory now stands at around 572,000 active listings, marking the highest number since 2020.
Major metro areas such as Phoenix, Denver, and Dallas experienced the largest year-over-year inventory gains, with surges of up to 65%. This increase in options might ease competition among buyers, although affordability challenges persist due to elevated mortgage rates. Analysts remain cautiously optimistic, noting that while more homes are available, price trends and interest rates will still play a significant role in overall market stability.
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