In what is a harrowing reality check for the country’s housing market, the United States reportedly has a record high $698 billion worth of homes currently for sale. Indeed, real estate brokerage tech firm Redfin released a recent report that revealed the 20% jump in homes for sale in the country.
The company unveiled an analysis of real estate listings over the last 13 years. Moreover, that data showcases the reality of home buying in the country, with the all-time high listing figure a result of rising prices and plummeting demand. Altogether, it provides a concerning look into the future of property purchases within the country.
JUST IN: 🇺🇸 $698 billion worth of homes are for sale in the United States, a new all-time high.
— Watcher.Guru (@WatcherGuru) June 2, 2025
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United States Home Sellers Have Nearly $700B worth of Listings in New All-Time High
There is no denying that the United States is facing a concerning period of economic frailty. The national debt continues to balloon, with worries about its ultimate fate. Meanwhile, macroeconomic pressures have only hindered the experience for so many citizens. One area that has become primarily affected is real estate.
The average age of a homebuyer in the country has only continued to go up, reaching 56 years currently. That is a reality that many young American families are facing, although it doesn’t appear to be because of a lack of inventory. According to a report from Redfin, the United States has a record of $698 billion worth of homes for sale.
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The housing supply has reached a 5-year high, the report notes. That only reinforces the reality that there are far more buyers than sellers. Meanwhile, the median price for a home in the US rose 20.3% year over year.
“A huge pop of listings hit the market at the start of spring, and there weren’t enough buyers to go around,” Redfin agent Matt Purdy said in a press release. “House hunters are only buying if they absolutely have to, and even serious buyers are backing out of contracts more than they used to.”
“There’s a surplus of inventory on the market, with sellers facing reality and willing to negotiate prices down,” he added. Additionally, the data shows that 44% of United States homes listed on the market have been there for more than 60 days. Altogether, it reiterates that the country is certainly facing a home-buying crisis.