A
new report from Realtor.com reveals that housing inventory in many major metropolitan areas has surpassed pre-pandemic levels. Nearly half of the 50 largest US metros have seen an increase in active listings, with some experiencing double-digit percentage jumps.

    The top 10 metro areas with the largest gains in active inventory include Denver, Colorado, which saw a staggering 100% increase; Austin, Texas, up 69%; and Seattle, Washington, at 60.9%. The Dallas-Fort Worth area in Texas also experienced a significant rise of 55.5%, while San Antonio's active inventory jumped 58.3%.

    Realtor.com attributes the surge in inventory to factors such as increased construction and reduced time on the market. According to Chief Economist Danielle Hale, "we're seeing strong inventory rebounds in metros that have built more in the last six years." This trend suggests a shift towards a buyer-friendly national housing market.

    The US had over one million homes on the market in May, a level not seen since 2019. In contrast, the country was facing a supply gap of around 3.8 million homes just a few months prior. The increased inventory is expected to alleviate some of the affordability issues that have plagued homebuyers in recent years.