10/16/2026
U.S. active listings rose 5.4% year over year in September—but that national figure hides a 39.6-percentage-point state spread.
Minnesota recorded a 30.0% increase, while Florida declined 9.6%. Several states gained more than 20%; six states and Washington, D.C. moved in the opposite direction.
That divergence matters because a national inventory headline cannot establish the negotiating environment in a particular market. More active listings may increase buyer choice, but leverage also depends on pending sales, price reductions, days on market, months of supply and the relevant price band.
Use the national number for context. Underwrite the local market that will determine acquisition competition and exit liquidity.
Source: Realtor.com Economic Research, September 2026 state inventory data. Active MLS-listed homes; year-over-year change. Pending listings are excluded where pending status is available.