AI Data Insight
The latest Q3 data shows that US existing home inventory surged to 1.62 million units, climbing significantly from the previous figure of 1.54 million units to hit a near seven-year high. High mortgage rates and record-high home prices continue to suppress buying sentiment, driving the months' supply of inventory to a 10-year high. As the market balance gradually tilts toward buyers, room for negotiation expands, and subsequent home prices face downside correction pressure.