US Housing Inventory Rebounds: 18 States See More Homes for Sale in 2024

How is the US housing inventory changing in 2024? By mid-Q2 2024, 18 states in the United States reported an increase in homes for sale compared to 2019, marking a significant deviation from the post-pandemic inventory shortage. Nationally, the overall market remains tight, with US inventory levels still below pre-pandemic figures despite some recovery in select states. This inventory increase is attributed to rising mortgage rates dampening buyer activity and a surge in homebuilding, which has resulted in more available listings amid cooling demand. An economist noted that this normalization offers buyers greater options and could potentially ease price growth where inventory has surpassed pre-pandemic levels. For sellers, this shift signifies increased competition, emphasizing the need for competitive pricing and stronger home presentation as market observers watch for further state-level inventory changes.

Understanding these trends can help buyers and sellers navigate the evolving real estate landscape effectively.

For expert insights on the Covina real estate market, connect with Shaline Heng, REALTOR® at NEST REAL ESTATE.