US Housing Inventory Marks 102nd Consecutive Week of Annual Gains: Report

Buyers have begun ghosting sellers in some markets.

A "For Sale" sign in Washington on May 19, 2025. Madalina Vasiliu/The Epoch Times

The number of residential properties active on the market jumped 15.1 percent yearly, marking the 102nd consecutive week of annual gains in housing inventory, according to the latest weekly analysis report from Realtor published on Oct. 23.

As new listings went up 4.7 percent year over year, and mortgage rates registered a steady drop since May, more sellers are putting up homes for sale across the country hoping to incentivize buyers waiting on the sidelines.

The 30-year fixed-rate mortgage, backed by Freddie Mac, is currently at 6.19 percent, as of Oct. 23. At the beginning of the year, it was over 7 percent. The number is relatively high when compared to the average 3 percent rates in 2021.

There were around 1.1 million homes for sale last week, said Realtor, adding that it was the 25th week in a row where the number was above a million. Active inventory is growing faster than new listings indicating a slower sales cycle with homes sitting on the market far longer than before.

The average period of time a property sits on the market is currently four days longer than a year ago, but this rate is coming down signaling an increasing interest from buyers.

According to real estate brokerage Redfin, the median number of days a home presently sits on the market is 48. The median sale price is $391,250, as of Oct. 19, while the asking price is $399,675—with both numbers registering a considerable increase annually.

All numbers point to a buyers market.

“Buyers are scoring deals, especially those who can pay all cash and/or those who are open to new construction,” said Amanda Peterson, a Redfin agent.

“One recent all-cash buyer paid $500,000 for a condo that was appraised at $685,000—and the seller agreed to pay upfront for six months of pricey HOA dues. And builders are offering steep discounts on new homes, especially in areas where they already have a lot of inventory and are still actively building. Builders are dropping prices, giving up to $20,000 in concessions, throwing in appliances, and buying down mortgage rates, sometimes to below 4 percent.”

More sellers than before are willing to offer discounts and concessions.

However, “stubbornly high prices” are keeping away some buyers hopeful they may see a reduction in property prices.

“Nationwide, there are half a million more home sellers than buyers,” said Redfin.

The home sales numbers are skewed in such a way that the brokerage reports some buyers beginning to “ghost” sellers.

Last month, there were 53,000 home-purchase agreements nationwide that got canceled, said Redfin, which is 13.6 percent more than in 2024.

In markets such as Florida and Texas, there is a higher proportion of home buyers who are ghosting sellers.

In Tampa, Florida, 20.1 percent of home-purchase agreements were canceled, up from 17.7 percent a year earlier, said Redfin.

“I’m seeing a lot of buyer’s remorse,” said Jo Chavez, a Redfin agent. “Buyers make an offer, then they start worrying they could have found a better deal or a better home because there are more home sellers than buyers in the market. Some other buyers are backing out because they’re concerned about job security.”

The Federal Reserve is set to meet on Wednesday, amid an ongoing government shutdown, with policymakers expected to lower interest rates by 25 basis points, lowering the target to a range of 3.75 to 4 percent.

Mortgage rates are closely tied to the central bank’s interest rates, and recent declines have been attributed to the predicted lowering of interest rates.