National housing market inventory growth accelerates again—here’s the data by state

Nationwide housing market inventory growth is accelerating once again, with a recent 5.6% year-over-year increase between September 2025 and September 2026, according to ResiClub. This represents the third consecutive month of accelerated growth, though it's only modest compared to the 16.9% growth rate seen a year ago. While this signals a softening market with increased buyer leverage, it's still far below pre-pandemic levels.

In September 2026, active housing inventory stands at 1,161,615 homes, still 5.2% below September 2019. The majority of states have now surpassed pre-pandemic inventory levels, with active inventory per 1,000 households adjusted for household count. However, Florida is an exception, with a slight decline in active inventory year-over-year (-10%).

Despite the overall growth, some markets remain tight, particularly in the Midwest and Northeast, where sellers historically had more bargaining power. The softening trend is attributed to a combination of slowed domestic migration, higher mortgage rates, and an abundance of new home supply in the Sun Belt, which has put downward pressure on resale prices.