The housing market is quietly shifting. According to the latest data from Realtor.com, 17 states—including Utah— have more homes for sale than they did before the pandemic in October 2019. The relationship between housing inventory and demand is what creates a buyer’s or seller’s market. This affects how long it takes to sell a home, housing prices, how many offers you can expect to see on each home, and so much more, which is why we study it so closely.

What's Happening with Housing Inventory Right Now

Nationally, active listings (homes for sale) hit 1.1 million homes in October 2025. That's up 15% compared to last year. While national inventory levels are still about 9% below pre-pandemic levels overall, Utah is 24.1% above pre-pandemic levels. The trend is clear here in Utah and across the nation: inventory is rising, and the power dynamic between buyers and sellers is changing.

What This Means If You're Selling

If you've been thinking about listing your home, you're now competing with more sellers than you were a year ago. The days of multiple offers within hours are less common in many markets. This doesn't mean your home won't sell—it just means presentation, pricing, and strategy matter more than ever.

Here in Utah, we're seeing similar trends. Homes are taking a bit longer to sell, and buyers have more options to choose from. That said, homes that are priced strategically and presented well, are still getting plenty of interest and selling for a premium.

What This Means If You're Buying

Good news—you have more negotiating power than you've had in years. With inventory rising, you're no longer forced to waive every contingency or offer $50,000 over asking just to compete.

The challenge? While there are more homes available, they're still getting absorbed relatively quickly in desirable areas. If you've been sitting on the sidelines waiting for the "perfect" time, now might be it. Mortgage rates have stabilized, and you actually have choices again.

The Lock-In Effect Is Loosening

One interesting trend: new listings in 2025 are higher than they were in 2023 and 2024. This suggests that some homeowners who felt "locked in" by their low mortgage rates are starting to make moves again. Whether it's life changes, job relocations, or simply deciding the time is right, more sellers are testing the waters.

Where Do We Go From Here?

The market is finding its balance. We're moving away from the frenzied pandemic boom and the subsequent freeze-up of 2023. What we're seeing now is more normal—though "normal" might feel strange after the wild ride of the past few years.

For both buyers and sellers, this is actually a healthier market. Sellers can still get good prices if their homes are priced right and show well. Buyers can take their time, do proper inspections, and negotiate terms that work for them.

Your Next Move

Whether you're buying or selling, understanding where the market stands gives you an edge. If you've been putting off a real estate decision, let's talk about how these inventory shifts specifically impact your situation and your neighborhood.

To discuss how this impacts your real estate plans, call me immediately.

Here to serve,

P.S. Market conditions can change quickly. If you've been waiting for the "right time" to make a move, let's talk about whether that time might be now.