Between November 2023 and November 2024, U.S. active housing inventory for sale rose +26.1%. Between November 2024 and November 2025, U.S. active housing inventory for sale rose +12.6%. Some of that percentage deceleration is a denominator effect (i.e., as U.S. active inventory rises, it takes an even larger increase to generate the same year-over-year percentage gain). That said, the deceleration is not only due to a denominator effect.
Since its inception, online resale has been about the art of the hunt. For the last decade, shoppers on sites like The RealReal, Poshmark or Depop didn't mind scavenging endless feeds of pre-owned products if it meant potentially scoring a vintage Armani tuxedo blazer or a Tom Ford-era Gucci bag. The resellers, in turn, enabled this behaviour by continually flooding their marketplaces with treasures.