More Homes for Sale, but Affordability Remains a Murky Challenge
Housing Market Trends: Rising Supply vs. Affordability Challenges The U.S. housing market is poised for a transformation. Homes for sale trends reveal a precarious balance between rising supply and affordability challenges. The inventory of homes for sale has surged by 30.6% year-over-year. This marks the 18th consecutive month of growth. Despite these gains, inventory levels still fall short of historical averages. Some areas show signs of normalization. This balance reflects notable trends that shape current market challenges. The rise in single-family existing homes for sale is about 20% from last year. Additionally, new home sales have peaked since 2007. There are now 481,000 new homes available. Speculative homes have also climbed to their highest since 2008. This totals 385,000 units. These trends underscore an increase in supply. Yet, they face constraints that hinder a stronger inventory rebound. Affordability remains a significant challenge. Between 2019 and 2024, the median s...