Active housing inventory reached 1.15 million homes in March, the highest level since 2019, providing buyers with more choices and slowing price appreciation in most major metros.
Sellers returning to the market after years of low listing activity are fueling the inventory growth. Homes are taking longer to sell, and price cuts are becoming more common.
Economists say the market is shifting toward balance, though regional variations remain significant. Sun Belt metros have the most inventory, while Northeast markets remain tight.
