Report: Housing Inventory Turnaround Is on the Horizon
May 10, 2022
Signs of a rebound are emerging in the number of house listings in the real estate market. The number of active listings recently posted the smallest annual decline since December 2019, a possible sign that a turnaround is taking root, according to realtor.com®’s Monthly Housing Trends Report.
“April data suggests a positive turn of events is on the horizon for weary buyers: If the trends we’re seeing now hold true, we could potentially see year-over-year inventory growth within the next few weeks,” says Danielle Hale, realtor.com®’s chief economist. “The key to this growth will be the continuation of softening buyer competition and an increasing number of sellers putting homes on the market.
“While home shoppers are still seeking relief from record-high asking prices and all-time low supply when compared to the past two-plus years of double-digit annual inventory declines, an imminent rebound is welcome news—a real estate refresh, if you will,” Hale says. “There’s a long uphill climb to balance, but it starts with heading in the right direction, and April data shows a lot of promise.”
The inventory of active listings fell 12.2% in April year over year. That marks an improvement over March, when active listings were down 18.9%, realtor.com®’s data shows. It is the smallest decline since December 2019.
The share of mid-sized homes—about 1,750 to 3,000 square feet—posted the largest gains in new listings.
View a breakdown of the 50 largest U.S metros, reflecting April housing data.
Updated: May 23, 2022