Last week, housing inventory fell from 853,180 to 846,833 units, marking a slowdown despite a 25% year-over-year increase in purchase applications. Although this drop in inventory occurred, it was influenced by seasonal disruptions around the July 4th holiday. The market is expected to stabilize as mortgage rates approach their lowest levels this year. There is also a notable slowing growth rate in home prices nationally in 2025, suggesting a promising balance in the housing market despite recent fluctuations in new listings data.
Housing inventory decreased last week, falling from 853,180 to 846,833 units, while year-over-year purchase application data grew 25%.
The increase in inventory and the slowing growth rate of home prices nationally is promising for the housing market in 2025, reflecting a nearly perfect balance.
The previous week showed stronger growth in housing data than the typical trend, yet the recent dip in new listings data is anticipated to rebound soon.
New weekly listings achieved the target of 80,000, experiencing a significant dip last week, illustrating a normal seasonal pattern.
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