Is housing inventory about to turn negative year over year?

"Inventory rose from 723,460 to 724,977 during the week of April 3-April 10, compared to a rise from 691,173 to 702,436 the same week last year. This indicates a seasonal increase, but the growth rate is facing hard comparisons until mid-June."

"New listings have been disappointing this year, with last week's figures at 70,244 compared to 76,271 the previous year. The hope was for new listings to reach between 80,000-100,000 during peak months, reflecting a normal year."

"As mortgage rates and inventory rise together, the percentage of price cuts increases, with about one-third of homes undergoing price reductions before selling. This dynamic is indicative of the current housing market conditions."

"The 2026 home-price forecast predicts a national decline of negative 0.62%, influenced by lower mortgage rates than initially expected and the ongoing dynamics of the housing market."

Inventory is experiencing a seasonal increase, but growth has slowed significantly from 33% year-over-year to 3.21%. Despite higher mortgage rates, inventory levels are healthier than during the COVID years. New listings have been disappointing, remaining negative year-over-year, with last week's figures falling short of expectations. The housing market is seeing price reductions as mortgage rates and inventory rise together. A forecast predicts a slight decline in home prices nationally, influenced by lower-than-expected mortgage rates and other market dynamics.

Read at www.housingwire.com