Housing inventory growth has slowed since late June, with a rare week-to-week decline noted last week. Lower mortgage rates, the traditional seasonal decline of new listings, and frustrated home sellers pulling listings are contributing factors. Although active inventory typically peaks in the fall, current trends suggest that if mortgage rates remain stable or decline further, the peak growth rate of inventory for 2025 may have already been reached. Weekly inventory, which fell from 865,620 to 859,096, marks a shift from historical trends where growth was expected in early August.
Active housing inventory has recently peaked, but a decline in inventory last week indicates a shift, potentially influenced by lower mortgage rates and frustrated sellers.
Despite lower mortgage rates trending below 6.64%, the inventory growth percentage has been declining since late June, with recent growth rates dropping significantly.
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