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The U.S. housing market is currently experiencing an unexpected surge in unsold inventory. Eight states now have more unsold homes than in 2019, indicating a significant shift in the market dynamics. The increase in unsold homes, however, is not evenly distributed across the country. What Happened: Research firm Altos Research reported a 40% increase in homes on the market at the end of August 2024 compared to the same period last year. This equates to over 700,000 unsold single-family homes, with about 10% going into contract each week. The rise in inventory is not uniform across the country….

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