U.S. Home Sellers Are Sitting on Nearly $700 Billion Worth of Listings, an All-Time High

More than $330 billion worth of listings have been sitting on the market for 60 days or longer. Rising inventory and slow homebuying demand is pushing up the total dollar amount of home listings, and will push down home-sale prices by the end of the year. 

There’s a total of $698 billion worth of homes for sale in the U.S., up 20.3% from a year ago and the highest dollar amount ever. 

This is based on an analysis of listings on Redfin.com going back through 2012. For the total dollar value of all inventory on the market, we sum up the list price of all active U.S. listings as of the last day of each month; April 2025 is the most recent month for which data is available. For the purposes of this report, the term “value” is interchangeable with “list price”; i.e., when…