BiggerPockets Daily
It's Still a Seller's Market in These 37 Cities
May 11, 2025
Explore the intriguing regional disparities in the U.S. housing market, where inventory in some areas remains critically low. Discover how tight markets in the Northeast contrast with inventory surpluses in the Sun Belt. The discussion highlights the effects of pandemic-driven migration and construction challenges. Learn why understanding these local trends is crucial for buyers, sellers, and investors as the real estate landscape evolves for spring 2025.
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Quick takeaways
- Despite a general increase in nationwide inventory, 37 U.S. metro areas still face shortages exceeding 50% below pre-pandemic levels.
- Regional differences in real estate dynamics underscore the importance of localized market analysis for both buyers and sellers.
Deep dives
Current Trends in Real Estate Inventory
National inventory statistics indicate a significant shift in the real estate market, with active listings rising 31% year over year as of April 2025. This increase brings inventory levels close to pre-pandemic years, suggesting that the market is beginning to loosen after a prolonged period of tight supply. However, the landscape is uneven, as many regions, particularly in the Sunbelt, have surpassed 2019 inventory levels, while other areas, especially in the Northeast and Midwest, continue to face significant shortages. As a result, 37 of the largest 200 metro areas are still grappling with inventory levels that remain 50% below their pre-COVID baselines, showcasing the localized nature of real estate dynamics.
