"Monitoring active listings and months of supply is essential for understanding home price momentum. A rapid increase in active listings can indicate pricing softness, while a decline suggests seller strength."
"Since the pandemic housing boom ended in 2022, the power dynamic in the housing market has shifted from sellers to buyers, with local variations across the country."
"Local markets with active inventory above pre-pandemic levels have generally experienced softer home price growth, while those with lower inventory have seen more resilient price growth over the past 47 months."
"Nationally, active inventory is currently up 4.6% year-over-year, but remains 11.8% below pre-pandemic levels, indicating a more stable supply-demand equilibrium in recent months."
Active listings and months of supply are key indicators of home price momentum. An increase in active listings may signal pricing weakness, while a decrease suggests seller power. Since the pandemic housing boom ended in 2022, the market has shifted from sellers to buyers, with variations across regions. Areas with higher active inventory than pre-pandemic levels have seen softer price growth, while those with lower inventory have experienced more resilient growth. Nationally, active inventory is up 4.6% year-over-year, but still below pre-pandemic levels.
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