Homebuyers are seeing more homes to choose from, as the number of active homes on the market increased nationwide in December.
All four major US regions saw increases, with the West and South leading the way, as growth in those regions has cooled since the summer.
Inventory increased 14.4% in the West, 12.3% in the South, 11.1% in the Midwest, and 7.5% in the Northeast over the past 12 months, according to the Realtor.com® December 2025 Monthly Housing Trends report.
At the metropolitan level, 48 of the 50 largest markets posted year-over-year inventory growth.
The sharpest increase was seen in Washington, DC, up 32.8%; Charlotte, NC, up 30.8%; Las Vegas, up 29.2%; Seattle, up 28.8%; and Raleigh, NC, up 26.7%.
Joel Bernerchief economist at Realtor.com®, says this is due to the decline in sales. “Homes spend a long time on the market, so they’re building in some of these areas. And then in some of these markets, new inventory is coming in at a faster rate than we were in 2024.”
According to Berner, a growing number of homeowners are putting their homes on the market, suggesting that the “lock-in effect”—where low-rate mortgages prevent people from moving—is beginning to weaken.
Washington, DC, is seeing a boom in real estate
Washington, DC, agent Scott MacDonaldpresident of Re/Max Gateway in Fairfax, VA, tells Realtor.com, “Our inventory levels were very low last year, so we had to increase to support our demand from home buyers.”
Berner says, “DC is seeing a recession in general, and that’s what’s causing homes to pile up on the market.”
“Some uncertainty among people employed by the federal government may lead them to want to move,” Berner added.
This flood of homes on the market “means that sellers need to be more aware of condition and prices in order to sell their homes, and that buyers can be more selective and take their time when choosing their next home,” MacDonald said. “It’s nowhere near a buyer’s market, but the good news is that buyers can get contingencies in their contracts again, which is good in my opinion.”
Other metros in the top five
A variety of factors that promote the growth of property in other metros in the top five, according to real estate experts.
“Inventory in the Charlotte metro has grown due to a combination of increased new construction completions and more resale sellers coming to market after slow moves during periods of ups and downs,” Brooke A. Sinesa Charlotte real estate agent with Re/Max Grand Allure Home Group, tells Realtor.com.
“Many builders deliver homes that were started when demand is strong, while many homeowners choose to write as lifestyle changes take precedence over rate concerns.”
“Inventory is high because the market is normalizing after years of very low availability,” Robert LittleLas Vegas wealth agent with Re/Max Advantage, tells Realtor.com. “More homeowners are listing comfort, and buyers have adjusted to interest rates. The bottom line is that this is a healthy asset, not a stressor.”
At the very least, rising inventory is a good thing for home buyers.
“Consumers finally have options again,” he adds. “More inventory means less stress, more choice, and better bargaining power.”
Seattle real estate agent Jessie Culbert Boucher of Compass, says there is a lot of inventory there because sellers are finally getting off the bench.
“I think sellers are seeing more opportunity to get what they need since prices are lower than last year,” said Boucher. “People are getting more comfortable with seeing 6s and feeling like that’s normal.”
Despite the growing inventory, Boucher says there is still a need to enter the Seattle market. “There is inventory, but it’s not what people want and it’s not always the most desirable thing,” he said. “They want to see that Seattle Craftsman in more situations, and we’re not seeing a lot of what we need.”
New construction is a major driving force behind Raleigh’s inventory, Berner said.
“There are many new things available in the market, in existing houses,” he said. “There’s more competition for sellers because you’re not just competing with your neighbor, you’re competing with builders in these new communities.”
