For-Sale Home Inventory Improves in August

Sellers are beginning to bring more affordable housing options to the market, according to a new report from Realtor.com. In August, the 432,000 new home listings came to market, an increase of 4.3% year-over-year. In addition, more home sellers are making pricing adjustments. Such adjustments are up .7% to a total of 17.3% of active inventory, which is in line with pricing adjustments from the 2016 to 2019 era.

While the report came with good news, it also shed light on the depth of the housing supply shortage. US for-sale home inventory is still down 25.8% year-over-year, although an improvement from the 33% decline in July, and the housing supply is short more than 223,000 listings. Although these numbers seem dire, the report notes that August was the fourth consecutive month of housing supply improvements, down from the peak in April.