California’s housing market saw a sharp rise in available homes in July, with a California home inventory surge pushing statewide listings to 77,994, up 36.5 percent from 57,148 a year earlier, according to Realtor.com. The increase was the fourth largest in the nation.
Nevada recorded the biggest year-over-year rise at 52.9 percent, followed by Maryland at 48.2 percent and North Carolina at 40.7 percent. Nationally, home inventory climbed 24.8 percent from the same month last year.
Among metro areas, Southern California led much of the growth. The Los Angeles–Long Beach–Anaheim region saw inventory jump 41 percent in July, while San Diego–Chula Vista–Carlsbad rose 43.5 percent. Riverside–San Bernardino–Ontario posted a 38.1 percent increase.
Realtor.com attributed the trend to persistent high interest rates, inflation concerns, and broader economic uncertainty reducing buyer demand. The impact has been more pronounced in Southern California, where home prices tend to be higher, intensifying consumer caution.
Experts noted that rising inventory could benefit buyers by increasing options and easing competition. However, they also cautioned that many potential buyers may remain sidelined unless both home prices and interest rates ease.
“If interest rates stay in the mid-6 percent range and inflation continues, consumers will have less ability to buy the homes they want,” they warned.
BY HOONSIK WOO [woo.hoonsik@koreadaily.com]
