New data from Realtor.com shows that inventory on the US Housing Market surged by 30% in April 2024. With the share of sellers cutting the price also spiking to the highest rate since 2018.

Surging homes for sale and price cuts suggests the housing market is weakening that home prices could drop significantly in coming months. Particularly in housing markets like Texas, Florida, and Arizona, where there is the biggest spike in homes for sale and price cuts.