Recent Compass Intelligence data suggests a widening gap between supply and demand. National inventory has leveled off at about 859,000 homes, roughly 16% higher than last fall — yet pending home sales are dipping. The result is a market that feels paused: not flooded with listings, but slower to absorb them.

This pattern mirrors a classic moment of buyer hesitation. Sellers are still active, but many buyers are waiting for clarity on rates, employment, and the broader economy — concerns now amplified by the government shutdown.

For sellers, that means strategy matters. With supply flat but demand softening, pricing alignment is the new competitive edge. Homes that read as realistic — not reactionary — are still selling well. Those that don’t are sitting.

(Source: Altos Research, Compass Intelligence | October 2025)