The 50 tightest housing markets heading into spring 2025

Earlier this week, ResiClub PRO members got access to our latest housing inventory analysis for +800 metros and +3,000 counties.

Using that analysis, today ResiClub identified the tightest major housing markets heading into the spring 2025 season, where active inventory is still the furthest below pre-pandemic 2019 levels. These markets are where home sellers have maintained more power compared to most sellers nationwide.

At the end of February 2025, national active housing inventory for sale was still -23% below February 2019 levels

However, among the nation's 200 largest metro area housing markets, 50 markets (see table below) at the end of February 2025 still had at least 46% less active inventory than in February 2019.

Many of the tightest housing markets in the country right now are in the Northeast.

Unlike the Sun Belt, many markets in the Northeast and Midwest were less reliant on pandemic-era migration and have fewer new home construction projects in progress. With lower exposure to the negative demand shock caused by the slowdown in pandemic-era migration—and fewer homebuilders in these regions offering affordability adjustments once rates spiked—active inventory has remained relatively tight, maintaining a seller's advantage.

ResiClub PRO members can access our latest interactive inventory analysis for +800 metros and +3,000 counties here.

44 housing markets where homebuyers have gained leverage

Among the nation’s 200 largest metro area housing markets, 44 markets ended February 2025 with more active homes for sale than they had in pre-pandemic February 2019. These are the places where homebuyers will be able to find the most leverage or market balance in 2025.

Many of the softest housing markets, where homebuyers have gained leverage, are located in Gulf Coast and Mountain West regions. These areas were among the nation’s top pandemic boomtowns, having experienced significant home price growth during the Pandemic Housing Boom, which stretched housing fundamentals beyond local income levels.

When pandemic-fueled migration slowed and mortgage rates spiked, markets like Sarasoata, Florida, and Austin, Texas, faced challenges as they had to rely on local incomes to sustain frothy home prices. The housing market softening in these areas was further accelerated by the abundance of new home supply in the pipeline across the Sun Belt. Builders in these regions are often willing to reduce prices or make affordability adjustments to maintain sales. These adjustments in the new construction market also create a cooling effect on the resale market, as some buyers who might have opted for an existing home shift their focus to new homes where deals are still available

Over the past week, ResiClub PRO members (paid tier) got these 3 additional research articles:

Monthly report: Housing market inventory dynamics in 800+ metros and 3,000+ counties

Florida is the epicenter of housing market weakness in 2025: ZIP code analysis

9 long-term trends that will reshape the housing market