Story perspectives

Home Inventory Soars 30.6% Amid Declining Sales

5/2/2025

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Summary

Story summary

Home inventory increased by 30.6% year-over-year, continuing 18 months of growth and exceeding April 2020 levels.
Pending home sales declined by 3.2% as mortgage rates rose, while newly listed homes rose by 9.2%.
The national median list price held steady at $431,250, yet 18% of listings experienced price reductions, reflecting affordability issues.
A Redfin report revealed a widening gap between list and sale prices, with sellers slow to adapt to market shifts.

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Story summary

Home inventory increased by 30.6% year-over-year, continuing 18 months of growth and exceeding April 2020 levels.
Pending home sales declined by 3.2% as mortgage rates rose, while newly listed homes rose by 9.2%.
The national median list price held steady at $431,250, yet 18% of listings experienced price reductions, reflecting affordability issues.
A Redfin report revealed a widening gap between list and sale prices, with sellers slow to adapt to market shifts.