New Listings Hit 2007 Levels Again
The floodgates may be opening.
Builders are sitting on finished homes they can’t sell, and inventory levels are back to pre-crash highs.
Pressure is mounting—and when supply builds up like this, prices usually break.
Now rates are back above 7%, and demand is vanishing. The credit downgrade didn’t help, but buyers were already tapping out.
For investors with dry powder, the setup is starting to look familiar—and full of opportunity.
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Inventory of New Houses for Sale at 500,000, Most since 2007
Inventories of completed single-family houses for sale in April, at 115,000, were up by 31% year-over-year, by 49% from April 2019, and about where they’d been on the eve of the Housing Bust in January 2006.
Mortgage Rates Cross Back Over 7% After U.S. Credit Downgrade
There was a bit of a comeback in mortgage demand from homebuyers in the first two weeks of May, but that was when rates were just sitting right around 6.9%. There has been a marked slowdown among buyers recently, whenever the rate goes over that 7% threshold.
The 10 Big Cities with the Biggest Price Declines of Single-Family Homes
Five of these big cities had double-digit price declines from their peaks in mid-2022 include Austin -21.5%, Oakland -19.2%, New Orleans -16.7%, San Francisco -15.2% and Washington DC -10.2%.
Report: Home and condo prices keep falling across Florida
Sarasota/Bradenton and Naples saw especially steep drops, with the median home price falling 13.8% from a year ago to $405,000 in Sarasota and 14% from a year ago to $620,000 in Naples.
Builder Confidence Near Post-Pandemic Lows, But Timing is Everything
While persistently high interest rates remain a top concern for the housing market, a growing number of builders cited difficulty pricing new homes in light of the rapidly changing outlook for material costs due to tariffs.
Top 10 Opportunity Zones Where Median Home Price Nearly Doubled Annually
typical home values in many Opportunity Zones stayed well below the national average in early 2025. In 80 percent of zones with sufficient data, median Q1 prices were under the U.S. median of $355,000—roughly in line with trends since 2020. Nearly half of those zones also posted median prices below $200,000
