The US housing market is continuing its slow but steady rebalancing, giving buyers more options than they’ve had in years — but in certain states, there has been a significant increase in inventory.
Nevada, Maryland, and North Carolina lead the way in year-over-year inventory growth.
“Nevada has seen a strong uptick in investor seller activity recently, which could be driving listings higher as buyer demand pulls back,” says Hannah Jones, senior economic research analyst for Realtor.com®.
Compared with the same time last year, Nevada has seen a 52.9% increase in the number of homes on the market—the biggest increase of any state. Maryland followed with a 48.2% increase in listings.
“North Carolina saw surging popularity during the pandemic, and is returning to some balance. Maryland has seen less extreme swings in prices and inventory, but is seeing inventory climb recently as buyer demand simmers.”
The inventory of homes for sale across the country in July 2025 rose 24.8% year over year—marking the 21st consecutive month of inventory growth and the third consecutive month with over 1 million active listings, according to Realtor.com data.