National active home listings grew by 34% year-over-year but are still below pre-pandemic levels
Oct. 4, 2024
Image: Michael Moloney / stock.adobe.com
Florida has seen the most significant increase in housing inventory.
In a show of improvement for the U.S. housing market, inventory has increased. According to the ResiClub blog, national active home listings have increased by 34% from September 2023 to September 2024 but remain 23% below the pre-pandemic levels of September 2019. If the current growth rate continues, with an additional 239,594 homes for sale each year, the active inventory could reach 1.18 million by September 2025. Florida has seen some of the largest inventory jumps, particularly in the southwest of the state, over the past two years.
In particular, in markets like Cape Coral, Punta Gorda, and Fort Myers, which were hard-hit by Hurricane Ian in September 2022. This combination of increased housing supply for sale—the damaged homes coming up for sale—coupled with strained demand—the result of spiked home prices, spiked mortgage rates, higher insurance premiums, and higher HOAs—translated into market softening across much of Southwest Florida. However, the inventory increases in Florida now expands far beyond SWFL. Markets like Jacksonville and Orlando are also above pre-pandemic levels, as are many coastal pockets along Florida’s Atlantic Ocean side.
