Why the housing inventory map is so startling

"Those markets have nearly 70% fewer homes for sale now than in 2019. Seventy percent! Despite social media messages to the contrary, the inventory shortage crisis is clearly in full force in much of the country. Available inventory of homes for sale in Texas has indeed skyrocketed roughly 400% since the pandemic lows. At the same time, inventory in most of the Midwest and Northeast has increased barely at all."

"The challenges in these housing markets sound exactly like pandemic frenzy: Too many buyers, not enough sellers. Multiple offers. Bidding wars. We desperately need more listings, a Boston-area agent told me last week when I was there. Take a look at this map of inventory changes at the state level compared to 2019. The end of the last decade was maybe the last normal housing market we had, so it's a useful reference for comparison now."

"Thirty-six states still have less available inventory than in 2019. The country as a whole has 15% fewer homes for sale than in 2019. Every time I look at this map I am shocked at how lopsided the market is."

Housing inventory has grown nationally by 9% year-over-year, yet the market remains severely imbalanced geographically. While Texas inventory has skyrocketed approximately 400% since pandemic lows, most Midwest and Northeast markets show minimal inventory growth compared to 2019 levels. Chicago and Connecticut exemplify this crisis, with nearly 70% fewer homes available than pre-pandemic. Thirty-six states still have less inventory than 2019, and the country overall has 15% fewer homes for sale. This disparity creates persistent pandemic-era conditions in many regions: multiple offers, bidding wars, and desperate seller shortages. The lopsided distribution reflects migration patterns, with young professionals moving from Midwest cities like Chicago to warmer climates, reducing available listings in traditional economic centers.

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