The article discusses the importance of monitoring active listings and months of supply to assess momentum in the housing market. ResiClub notes that local markets with inventory levels returning to pre-pandemic norms have seen softer price growth over the last two years. Nationally, active listings rose notably, offering buyers more leverage, with many markets transitioning from sellers' to balanced and even buyers' markets. Projections suggest that national inventory could return to 2019 levels by the latter half of 2025, impacting pricing dynamics.
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 over the past 30 months.
National active listings are on the rise (+30.6% between April 2024 and April 2025). This indicates that homebuyers have gained some leverage in many parts of the country.
As ResiClub communicated to ResiClub PRO members in late 2023, we expect national active inventory to approach pre-pandemic 2019 levels in the second half of 2025.
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