April inventory climbed 5.8% to 1.47 million units, yet 4.4 months of supply falls short of the 6-month balanced market threshold.
US housing inventory increased 5.8% in April to 1.47 million units, marking the largest month-over-month gain of the year. This translates to 4.4 months of supply, up from 4.2 months in March but still below the 6-month level considered balanced for buyers and sellers.
Despite the rise, demand remains muted due to mortgage rates climbing to 4.57% and buyer confidence hitting a 12-month low. Regional disparities persist, with Western homes priced at a median $619,600 facing tighter conditions than Midwest homes at $324,500.
The median time on market extended to 32 days, while consumer sentiment reached recession-level lows, discouraging buyers from competing even as listings grow.