U.S. Housing Market Inventory Increases in 2024

The U.S. housing market is experiencing a significant shift, with inventory levels beginning to rise after years of severe shortages. A recent survey by Redfin indicates that many current homeowners are reluctant to sell, with 34% stating they will never sell their homes, primarily due to factors like fully paid mortgages and personal satisfaction with their homes. In contrast, active listings have increased by 22% from December 2023 to December 2024, particularly in states like Florida, Arizona, and Texas, indicating a more balanced market. This uptick in inventory is providing buyers with greater leverage, allowing them to negotiate prices in areas previously dominated by sellers. However, despite the rise in inventory, overall active listings remain 15.7% below pre-pandemic levels. The changing dynamics suggest a gradual transition towards a buyer's market in certain regions, offering hope for those seeking to purchase homes.