The U.S. housing market is shifting with rising inventory levels, providing buyers with more options. By July 2025, the national inventory of homes for sale rose by 24.8%, marking the 21st consecutive month of growth. Notable gains are seen in states like Nevada, with a 52.9% increase, Maryland at 48.2%, and North Carolina at 40.7%. Other states, including California and Arizona, are also experiencing substantial growth in inventory. However, affordability challenges persist, with significant increases in typical list prices and price per square foot observed since 2019.
Nevada, Maryland, and North Carolina lead in year-over-year inventory growth, with Nevada experiencing a 52.9% increase, followed by Maryland at 48.2% and North Carolina at 40.7%.
California and Arizona also saw substantial inventory growth, with California having a 36.5% increase and Arizona experiencing a 36.3% increase.
Affordability remains a challenge for buyers, with a 37.6% jump in typical list prices since June 2019 and a surge of nearly 52.3% in price per square foot.
South Florida and Colorado are experiencing shifts due to increased listings, affecting market dynamics and leading to longer selling times.
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