Housing inventory by state has recovered most since 2022 in North Carolina, Hawaii, Arkansas and Tennessee, where active listings in August 2026 were more than double their August 2022 levels, according to Realtor.com data published by the Federal Reserve Bank of St. Louis [2]. Nationally, active listings reached 1,140,035 in August 2026, up 56.9% from August 2022 but still 7.7% below August 2019 [2]. Supply has now passed its pre-pandemic level in 18 states, most of them in the South and West, while Illinois, New York and Connecticut have fewer homes for sale than in 2022 [2].
Housing inventory by state: where supply recovered most
Inventory hit its low point in early 2022, when mortgage rates were near record lows and buyers cleared listings within days. The national count fell to 346,515 in February 2022 [2]. Since then, higher mortgage rates slowed sales and new construction added homes, and listings have climbed in almost every state. The states with the largest increases in active listings from August 2022 to August 2026 were [2]:
- North Carolina: 48,035 listings, +117.0% since August 2022
- Hawaii: 6,690 listings, +112.9% since August 2022
- Arkansas: 14,729 listings, +112.6% since August 2022
- Tennessee: 36,662 listings, +110.4% since August 2022
- South Carolina: 28,948 listings, +103.8% since August 2022
- Vermont: 2,683 listings, +101.1% since August 2022
Vermont's percentage gain is large because it started from a very small base; its August 2026 count was still about half of its 2019 level [2]. For the larger markets, the South stands out. Florida had 146,977 active listings and Texas 138,054, the two largest counts in the country and +83.6% and +81.0% above August 2022 [2].
Which states have more homes for sale than before the pandemic?
Comparing today's inventory with August 2019 shows whether supply has fully normalized. By that test, the recovery is uneven. 18 states had more active listings in August 2026 than in August 2019, led by Washington (151% of its 2019 level), Tennessee (146%), Colorado (137%) and Utah (131%) [2]. Arizona, Texas, Idaho, North Carolina and Florida were also above 2019 levels.
The Northeast and Midwest are still short of listings
At the other end, Connecticut had only 30% of its 2019 inventory, Illinois 38% and New Jersey 47% [2]. These states built relatively few new homes over the past decade, and many owners hold mortgages with rates far below today's levels, which discourages them from selling. 5 states, including New York and Illinois, had fewer listings in August 2026 than in August 2022.
Active listings by state: the full August 2026 table
The table ranks all 50 states by the change in Realtor.com active listings from August 2022 to August 2026 and shows August 2026 inventory as a share of August 2019 [2].
| Rank | State | Active listings, Aug 2026 | Aug 2022 | Change since 2022 | Share of Aug 2019 level |
|---|---|---|---|---|---|
| 1 | North Carolina | 48,035 | 22,140 | +117.0% | 111% |
| 2 | Hawaii | 6,690 | 3,142 | +112.9% | 113% |
| 3 | Arkansas | 14,729 | 6,928 | +112.6% | 110% |
| 4 | Tennessee | 36,662 | 17,428 | +110.4% | 146% |
| 5 | South Carolina | 28,948 | 14,202 | +103.8% | 106% |
| 6 | Vermont | 2,683 | 1,334 | +101.1% | 52% |
| 7 | Alabama | 22,364 | 11,733 | +90.6% | 108% |
| 8 | Georgia | 52,540 | 27,746 | +89.4% | 101% |
| 9 | Oklahoma | 16,713 | 8,918 | +87.4% | 112% |
| 10 | Colorado | 33,704 | 18,029 | +86.9% | 137% |
| 11 | Washington | 29,058 | 15,728 | +84.8% | 151% |
| 12 | Florida | 146,977 | 80,072 | +83.6% | 110% |
| 13 | Mississippi | 9,371 | 5,109 | +83.4% | 89% |
| 14 | Texas | 138,054 | 76,269 | +81.0% | 130% |
| 15 | Maine | 6,258 | 3,498 | +78.9% | 70% |
| 16 | Kentucky | 13,186 | 7,420 | +77.7% | 91% |
| 17 | New Mexico | 7,212 | 4,163 | +73.2% | 87% |
| 18 | Indiana | 18,311 | 10,580 | +73.1% | 98% |
| 19 | Nebraska | 5,667 | 3,286 | +72.5% | 106% |
| 20 | Delaware | 3,473 | 2,021 | +71.8% | 76% |
| 21 | Oregon | 18,685 | 10,917 | +71.2% | 113% |
| 22 | Minnesota | 18,852 | 11,114 | +69.6% | 86% |
| 23 | Virginia | 25,244 | 14,885 | +69.6% | 79% |
| 24 | Maryland | 16,739 | 9,909 | +68.9% | 77% |
| 25 | Kansas | 7,774 | 4,642 | +67.5% | 80% |
| 26 | Iowa | 11,292 | 6,847 | +64.9% | 86% |
| 27 | Louisiana | 15,831 | 9,701 | +63.2% | 82% |
| 28 | Missouri | 20,648 | 12,673 | +62.9% | 91% |
| 29 | South Dakota | 3,513 | 2,219 | +58.3% | 87% |
| 30 | Montana | 6,009 | 4,016 | +49.6% | 91% |
| 31 | New Hampshire | 3,507 | 2,399 | +46.2% | 60% |
| 32 | Ohio | 23,302 | 16,164 | +44.2% | 78% |
| 33 | Utah | 15,216 | 10,619 | +43.3% | 131% |
| 34 | Massachusetts | 12,474 | 8,771 | +42.2% | 69% |
| 35 | Wisconsin | 15,538 | 11,205 | +38.7% | 67% |
| 36 | West Virginia | 4,196 | 3,187 | +31.7% | 54% |
| 37 | Michigan | 28,246 | 21,541 | +31.1% | 68% |
| 38 | Alaska | 2,266 | 1,767 | +28.2% | 64% |
| 39 | Wyoming | 2,566 | 2,007 | +27.9% | 72% |
| 40 | Pennsylvania | 27,416 | 21,671 | +26.5% | 65% |
| 41 | Rhode Island | 1,838 | 1,461 | +25.8% | 52% |
| 42 | Arizona | 28,603 | 23,182 | +23.4% | 132% |
| 43 | California | 73,896 | 59,973 | +23.2% | 90% |
| 44 | North Dakota | 2,182 | 1,920 | +13.6% | 57% |
| 45 | New Jersey | 20,375 | 18,516 | +10.0% | 47% |
| 46 | Idaho | 8,784 | 8,837 | -0.6% | 113% |
| 47 | New York | 38,872 | 39,168 | -0.8% | 59% |
| 48 | Nevada | 13,356 | 13,719 | -2.6% | 103% |
| 49 | Connecticut | 5,297 | 5,709 | -7.2% | 30% |
| 50 | Illinois | 21,354 | 24,774 | -13.8% | 38% |
What more inventory has done to home prices
Supply and prices are moving as basic economics predicts. In the 12 states where August 2026 listings were at least 110% of the 2019 level, Zillow home values changed by an average of -0.1% in the year to July 2026 [1][2]. In the 15 states still below 70% of their 2019 inventory, home values rose by an average of +3.7% [1][2]. Florida (-2.2%), Texas (-1.8%) and Colorado (-1.7%) saw values slip, while Illinois (+5.1%), Connecticut (+4.9%) and New York (+5.3%) kept rising [1].
Zillow's own count, which includes all listings for sale during the month, showed 1,413,041 U.S. homes for sale in August 2026, 3% more than a year earlier [1][3]. Zillow also reported that 26.3% of listings had a price cut in August and that the typical home took 27 days to go pending [3]. With the 30-year mortgage rate at 6.95% in the week of September 17, 2026, buyers in high-supply states have time to compare and negotiate [4].
Where builders added homes, inventory has returned to or above 2019 levels and prices have flattened; where they did not, supply is still scarce and prices keep rising.
The market-oriented lesson is that supply, not demand management, is what restores balance. The fair counterpoint is that part of the Sun Belt increase reflects slower sales rather than new construction alone. State-level home values, and metro and ZIP-level inventory, are available on DataPorium's housing market page [1].
Key takeaways
- U.S. active listings reached 1,140,035 in August 2026, up 56.9% from August 2022 and 7.7% below August 2019 [2].
- North Carolina (+117.0%), Hawaii (+112.9%), Arkansas (+112.6%) and Tennessee (+110.4%) had the largest inventory gains since 2022 [2].
- 18 states now have more listings than in August 2019; Connecticut (30%) and Illinois (38%) have the least of their 2019 supply [2].
- States with the most restored supply saw home values change by an average of -0.1% over the year to July 2026, against +3.7% in the tightest states [1][2].
Frequently asked questions
Which states have the most houses for sale in 2026?
Florida had the most active listings in August 2026 at 146,977, followed by Texas at 138,054, according to Realtor.com data on FRED [2].
Is housing inventory back to pre-pandemic levels?
Not nationally. U.S. active listings in August 2026 were 92.3% of the August 2019 level, although 18 individual states had surpassed their 2019 inventory [2].
Where is housing inventory rising the fastest?
Since August 2022, active listings have more than doubled in North Carolina, Hawaii, Arkansas, Tennessee and South Carolina [2]. Over the past year alone, Minnesota (+30.6%) and Wisconsin (+22.2%) had some of the fastest increases [2].
Where is it hardest to find a home for sale?
Connecticut, Illinois and New Jersey have the lowest inventory relative to 2019, at 30%, 38% and 47% of their pre-pandemic levels [2].
Sources & References
- [1] DataPorium Housing Market Insights (Zillow home values by state and U.S. for-sale inventory)
- [2] Realtor.com via FRED: Housing Inventory, Active Listing Count (ACTLISCOUUS and state series)
- [3] Zillow, August 2026 Market Report (press release, September 8, 2026)
- [4] Federal Reserve Bank of St. Louis (FRED), 30-Year Fixed Rate Mortgage Average in the United States (MORTGAGE30US)
