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May 24, 2026
Today: National housing inventory is within striking distance of going negative year over year despite mortgage rates hovering near 6.9%, new listings are consistently clearing 80,000 per week, and demand is holding firmer than expected with pending sales up 9.7% year over year.
National housing inventory grew just 0.89% year over year as of May 22, bringing active listings to 794,286 units. That puts the market on the edge of going negative year over year, a scenario almost no one predicted for 2026 given that mortgage rates have climbed as much as 0.76% from the year's lows. HousingWire
For Athens brokers, the national inventory squeeze means two things. First, if you have sellers hesitating to list because they think the market is oversupplied, show them this data. Inventory is tighter than it was from 2020 to 2023, and we are nowhere near the bubble-era weekly new listing volumes of 250,000 to 400,000. Second, your buyer clients need to move quickly. Weekly pending sales hit 79,370 last week, up 9.7% year over year, even with rates above 6.64%. If buyers are waiting for a flood of inventory or a collapse in prices, that is not happening.
New listings data grew to 85,159 last week, up from 83,143 in the same week last year. We are finally seeing weekly new listing counts consistently above 80,000, which is healthier than the anemic 2020-2023 period but still well below the normal 80,000 to 100,000 range. Memorial Day weekend will drag next week's numbers down, but the trend is positive. For Athens agents, this means the spring selling season is delivering inventory, but not enough to shift the market decisively in favor of buyers. Price your listings competitively and expect reasonable DOM (Days on Market) if priced right. HousingWire
Price reductions remain stable at 36.77%, slightly lower than last year's 37%. About one-third of homes get a price cut before closing, which is normal market behavior. The year-over-year decline in price cuts, even with mortgage rates rising recently, confirms that demand is absorbing inventory without forcing sellers into panic reductions. If your listing has been on the market 30+ days in Clarke County without an offer, check the pricing. The market is not rewarding overpriced properties, but it is still clearing well-priced inventory. HousingWire
Mortgage purchase applications declined 4% week-to-week last week, but this is a single data point heading into a holiday weekend. Purchase app data is a forward-looking indicator with a 30-90 day lag to closings, so watch this closely in June. If purchase apps start a sustained decline, expect softer pending sales in July and August. For now, the data shows demand holding up despite rates near 7%. HousingWire
The national median home price forecast for 2026 was a negative 0.62%, but that call is looking shaky if inventory goes negative year over year and mortgage rates drop below current levels. Wages are rising faster than home prices for the second consecutive year, which improves affordability slightly, but the inventory shortage is keeping price growth in check rather than driving declines. For Athens agents, this means home price appreciation in Clarke County is likely to track modestly positive for the year unless a major economic shock hits. Adjust CMA (Comparative Market Analysis) expectations accordingly. HousingWire
Note: Articles about building permits in Aberdeen, Saskatchewan, and Roadrunner Venture Studios were not relevant to the Athens-Clarke County market and were excluded from this brief.