Inventory of Homes For Sale Is Up, While New Listings Are Down [Video]

In October, the inventory of homes for sale increased by 33% over October 2021. The rate of home inventory growth increased over September and has surpassed 2020 levels.

Sellers are less active than last year, and rising interest rates have slowed buyer demand. In October, newly listed homes declined by 15.9% compared to October 2021, which is a greater rate of decline when compared to September's year-over-year decrease.