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Housing inventory rises and purchase apps stay mixed as rates near 7%

HousingWire said last week’s weekly inventory rose to 883,683, but year-over-year comparisons are distorted by the Labor Day weekend timing in 2025.

Reported · Written up by our desk · Residential

HousingWire reports that weekly housing inventory increased to 883,683, a move that is contributing to stronger year-over-year growth comparisons after last year’s late-summer rate drop slowed inventory gains.

The weekly tracker showed new listings at 68,142 and price cuts of 42.14%, while “mortgage spreads” helped keep mortgage rates under 7%. The outlet also noted that this week’s data is heavily influenced by holiday timing, because last year’s Labor Day weekend fell Aug. 30 to Sept. 1.

HousingWire said purchase application data has shown softness as mortgage rates have risen above 6.64% and remained there, with the pending sales picture shifting from growth to flat to slightly negative as rates stayed elevated.

Still, the purchase applications index was positive 2% week to week and flat year over year, though the outlet cautioned that the next several weeks could look tougher as comparisons become harder.

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