Housing inventory growth is starting to stall

Weekly housing inventory data

As I have emphasized in 2025 and 2024, inventory growth has been the best story in housing as we transition from a savagely unhealthy housing market to a normal one. Some people were surprised by last week’s existing home sales report, which showed the inventory of existing homes declined slightly. However, the NAR inventory data typically peaks in the summer, so if we don’t see much growth in that data line, it’s not shocking. Our Altos data provides fresh weekly inventory data that isn’t tied to a home in contract, giving us a real look at what is available for sale.

Last week, inventory growth slowed from the previous week’s growth rate. 

• Weekly inventory change (July 18-July 25): Inventory rose from 856,751 to 860,426
• The same…