Inventory is still rising, but it is no longer acting like it had three coffees and a deadline.
According to ResiClub’s April 2026 update, national active listings were up 4.6% year over year. That is a big slowdown from the 30.6% growth recorded a year earlier.
So yes, buyers may still have more options than they did last year. But the wave of new choices is losing momentum. When supply growth slows, negotiating power can tighten back up, especially in markets where available homes are already running thin.
📉 What’s Happening With Housing Inventory?
The national market is mixed.
Active inventory is still 11.8% below April 2019 levels, meaning supply has not fully returned to pre-pandemic levels.
Some states now have more homes available, giving buyers more room to breathe. Others remain tight, which can keep sellers in a stronger position.
🗺️ The Pace Looks Very Different By Region
Inventory recovery varies sharply by region.
The Southwest and parts of the West are closer to pre-pandemic supply levels, while the Midwest and Northeast remain much tighter.
That means buyers and sellers need to look at local conditions, not national headlines. A buyer in one state may have plenty of options, while another may still face limited supply and stronger competition.
🏦 For Sellers: Price To The Market You’re Actually In
For sellers, this is a price-it-right market.
If inventory is rising, buyers have options. Overprice, and your listing may start aging like milk.
If inventory is tight, you may have leverage, but buyers are still picky about price, condition, and location.
Price against your local competition, not the national noise.
🏠 For Buyers: Be Ready Before The Right Home Appears
If inventory is up, you have more room to compare, negotiate, and breathe.
But in tighter markets, good homes still move fast. Translation: get your financing, budget, and offer strategy sorted before the house you love hits the market.
More inventory helps, but only if you know what is happening locally.