Housing Inventory Climbs for the 19th Consecutive Month, Offering More Options for Homebuyers Nationwide

Housing inventory rose for the 19th month, with new listings up nationwide. See market trends, inventory stats, and expert advice for buyers and sellers.

The U.S. housing market continues to shift, with inventory rising for the 19th straight month and new listings increasing across every major region. In May 2025, homebuyers found 31.5% more actively listed homes compared to a year ago, marking a significant expansion in choices for buyers this season. The number of homes for sale topped 1 million for the first time since winter 2019 and exceeded 2020 levels for the second month in a row. Despite this growth, overall inventory remains 14% below typical 2017–2019 levels, highlighting that the market is still working its way back to pre-pandemic norms.

Regional and Metro Trends in Inventory Recovery

While all 50 of the largest metropolitan areas saw year-over-year inventory growth, there remains a sharp regional divide. Twenty-eight of the 50 largest metros—including Virginia Beach—are still below pre-pandemic inventory levels. The 22 metros that have surpassed their pre-pandemic norms are all located in the South and West, reflecting regional differences in new construction and market demand. Virginia Beach is among the three metros with the slowest inventory recovery, alongside Hartford and Chicago.

The Role of New Construction

The pace of new construction has played a major role in shaping inventory recovery. Markets like Austin and Denver, which experienced significant construction booms during the pandemic, now have over 60% more active listings than before 2020. In contrast, areas with less new building—such as the Northeast and Midwest—continue to lag. Notably, some exceptions exist: San Francisco, despite limited new construction, has more active listings than before the pandemic, while Richmond, VA, has not seen the same recovery despite robust building activity.

Market Dynamics: Days on Market and Seller Activity

Homes are also spending more time on the market, with the typical listing sitting for 51 days—six days longer than last year. This is the 14th consecutive month of year-over-year increases in days on market, signaling a gradual normalization in market pace. Additionally, seller activity picked up in most metros, with newly listed homes increasing nearly everywhere, though only a few markets have returned to pre-pandemic listing volumes.

What This Means for Buyers and Sellers

These trends underscore the complexity of today’s housing market. Whether you’re considering buying or selling, it’s important to understand how local inventory, new construction, and shifting market dynamics may impact your plans. If you have questions or need personalized advice, please reach out for expert guidance.

Resource:
Realtor.com May 2025 Housing Market Trends Report

Megan Luker is a licensed Realtor in the Commonwealth of VA at ΓEA⅃ Broker, LLC. 757 703 1590 (direct), 855 450 0442 (office), 1765 Greensboro Station Place, 900 McLean, VA 22102

📱: text/call me at 757-703-1590
📧: megan@lukerativegroup.com