As we approach 2025, the housing market is experiencing significant shifts in active inventory trends. A rise in national active listings by 28.5% from March 2024 to March 2025 suggests a transition towards buyer leverage, particularly as some previously seller-dominated markets become balanced. This increase in inventory follows a trend where markets with pre-pandemic inventory levels face softer price growth, while areas with limited inventory continue to see robust price gains. Despite the overall rise, national inventory remains 20% lower than pre-pandemic totals, indicating persistent tightness in certain regions.
"When assessing home price momentum, it's important to monitor active listings and months of supply. If active listings start to rapidly increase as homes remain on the market for longer periods, it may indicate pricing softness or weakness."
"Generally speaking, local housing markets where active inventory has returned to pre-pandemic levels have experienced softer home price growth (or outright price declines) over the past 30 months."
"National active listings are on the rise (up 28.5% between March 2024 and March 2025). This indicates that homebuyers have gained some leverage in many parts of the country over the past year."
"Nationally, we're still below pre-pandemic 2019 inventory levels (20% below March 2019), and some resale markets, in particular big chunks of Midwest and Northeast, still remain tight to tight-ish."
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