U.S. housing inventory continues to climb, but the pace of growth is clearly slowing, signaling a market that may be stabilizing after years of volatility, Fast Company writes.
Nationally, active listings rose 12.6% year over year in November, down sharply from a 26.1% increase during the same period a year earlier. In raw terms, there were about 120,000 more homes for sale than last November, compared with nearly 197,000 added the year before.
Analysts say the deceleration reflects more than just math effects from a larger inventory base. In many softer markets, homes are not lingering longer on the market, and some sellers are pulling listings altogether as demand cools.
At the same time, a modest pickup in existing-home sales in select regions has helped absorb inventory. While conditions vary widely by region, the slowdown suggests the housing market’s recent softening may be leveling out as it heads into the traditionally busier spring season
