HousingWire Daily Why homebuilders can’t solve the housing inventory issue
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Oct 15, 2025 
Logan Mohtashami, the Lead Housing Analyst, dives into the complex world of housing inventory and market dynamics. He reveals how a subtle shift in inventory began in mid-June and explores the unusual peak in August linked to mortgage rate trends. Mohtashami unpacks how first-time buyers impact inventory when rates dip and discusses the persistent low listing behavior among financially stable homeowners. Lastly, he critiques Trump’s push for increased homebuilding, emphasizing that builders can't quickly solve the inventory crisis.
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Mid‑June Inventory Shift
- Inventory growth slowed starting mid-June even before mortgage rates fell, signaling an early shift in the market.
- Weekly live tracking revealed subtle changes that monthly reports missed, making real-time models crucial.
Demand Removes Inventory
- When mortgage demand rises, first-time buyers remove inventory rather than add it, shrinking available homes.
- Mohtashami contrasts his raw weekly listing data with NAR pending-contract figures to explain differences in inventory measurement.
Debate Over Sales Collapse
- Mohtashami recounts debating someone who predicted home sales collapsing to 2 million and used that to illustrate poor analysis.
- He notes purchase application data was actually up many weeks in a row, proving his point.