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US home listings jump as supply rises and demand stays flat
August new listings rose 2.6% month over month to the highest level since 2022, lifting overall homes for sale to a fresh high since 2020, according to Redfin.
Redfin reports that new listings of U.S. homes for sale increased 2.6% month over month in August to their highest level in over four years, with the year driven by major gains in cities including San Jose, Nashville, and Seattle.
The added supply is widening the pool of homes for sale, with total active inventory rising 3.9% from the prior month to the highest level since 2020, Redfin said, and Seattle in particular posting a 24.2% year over year jump in active listings.
On the demand side, Redfin said home sales were essentially flat month over month, reflecting a market shift where more sellers are listing as the mortgage-rate lock-in effect fades, some moves are prompted by life circumstances, and sellers respond to a slower pace of sales.
Redfin also pointed to local factors behind the listing surge: San Jose activity is tied to renewed Bay Area interest linked to the AI boom, while Nashville remains supported by a strong buyer’s market amid years of homebuilding and Seattle’s increase reflects sellers returning after demand weakened last summer, even as Seattle remains sluggish with prices down 5.3% year over year to $797,192 and pending sales down 14.2%.