As of March 2025, national active housing inventory is still 20% below levels seen in March 2019, yet it has increased 29% from the previous year, providing homebuyers some leverage. California stands out with a remarkable 50% year-over-year rise in active listings, though still trailing the pre-pandemic figures. Some regions, including nine major counties in California, show recovery in inventory levels. This activity reveals a shifting balance, where increased availability of homes is giving buyers more options and negotiating power in the real estate market, particularly in certain counties over others like Orange County.
Despite a 50% year-over-year jump in active California housing inventory for sale, the state still had 20% fewer homes than pre-pandemic March 2019, showing mixed market dynamics.
In housing markets with significant rises in active inventory, homebuyers have gained leverage, particularly noticeable in California's San Francisco condo market compared to Orange County.
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