Ken McElroy Show

4 Hidden Signs the Housing Market Is Losing Steam

Oct 7, 2025
The housing market is subtly shifting, and the hosts reveal four hidden signs to watch. They highlight the impact of low homeowner turnover and rising inventory levels. Delving into days on market trends, they discuss how these changes signal potential challenges ahead. Foreclosure rates are surprisingly low, thanks to homeowner equity keeping defaults at bay. The conversation also touches on affordability issues and how falling mortgage rates might redefine the landscape. Listeners get insights into smart buying strategies before any major shifts occur.
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INSIGHT

Inventory Still Below Pre‑Pandemic Peak

  • National inventory (months supply) sits near 4.6 months, below 2019's 5.5 months.
  • This level signals a healthier market than 2008 and not an imminent crash.
INSIGHT

Builder Oversupply Is The Real Pressure Point

  • Builder inventory is elevated at roughly nine and a half months, over double normal.
  • That excess sits with builders and pressures margins, prompting concessions and buy-downs rather than broad market collapse.
ADVICE

Use Days On Market As An Early Warning

  • Watch days on market as an early signal; national is 47 days versus 34 in 2019.
  • Monitor rising trends because sustained increases could precede larger price adjustments.
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