US For-Sale Homes Rise in First Since 2019, Realtor.com Shows

Home listings increased for the first time since June 2019, according to Realtor.com data, suggesting the US housing supply hit a turning point last month.

The number of active listings rose 8% year-over-year in May, probably driven by new sellers and a slowdown in would-be buyers deterred by high prices, Realtor.com said in a report Thursday. The largest increases in new listings were in the West and the South, in cities including Austin, Texas, and Phoenix, Arizona.