Housing Inventory Hits 1.62 Million — 4.9 Months' Supply, Highest in Over a Decade

U.S. housing inventory has risen to about 1.62 million homes, representing a 4.9 months’ supply—the highest in over a decade—indicating a more balanced market. Higher mortgage rates near 7% and slower sales have softened demand, giving buyers more choices and negotiating power. Sellers must price competitively and be flexible, while buyers should focus on total costs and contingencies. Regional variations remain significant.