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Nationwide active housing inventory for sale on the finish of Could 2025 was up 32% in comparison with Could 2024. That’s simply 12% under pre-pandemic ranges in Could 2019. Nonetheless, whereas the nationwide housing market has softened and stock has surpassed 2019 pre-pandemic ranges in some pockets of the Solar Belt, many housing markets stay far tighter than the nationwide common.
Pulling from ResiClub’s monthly inventory tracker, we recognized the tightest main housing markets heading into the spring 2025 season, the place lively stock remains to be the furthest under pre-pandemic 2019 ranges. These markets are the place house sellers have maintained extra energy in comparison with most sellers nationwide.
Among the many nation’s 200 largest metro space housing markets, 32 markets (see desk under) on the finish of Could 2025 nonetheless had a minimum of 50% much less lively stock than in Could 2019.
That’s decrease than final month’s depend, when 37 of the nation’s 200 largest metro space housing markets nonetheless had lively stock a minimum of 50% under pre-pandemic 2019 ranges—and down from 42 of the 200 the month earlier than that.
Lots of these tight markets are within the Northeast, specifically, in states like New Jersey and Connecticut.
In contrast to the Solar Belt, many markets within the Northeast and Midwest have been much less reliant on pandemic-era migration and have fewer new house building initiatives in progress. With decrease publicity to the damaging demand shock brought on by the slowdown in pandemic-era migration—and fewer homebuilders in these areas providing affordability changes as soon as charges spiked—lively stock in lots of Northeast and Midwest housing markets has remained comparatively tight, sustaining a vendor’s benefit heading into spring 2025.
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