There are almost as many homes for sale as before the pandemic and they’re still insanely expensive. Home Depot CFO triggers alarm (biggest crisis in 30 years)

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Don’t look now, but U.S. Housing Inventory is now almost back to pre-pandemic levels.

Aug 2019 supply: 1.24 million listings

Aug 2026 supply: 1.14 million listings

Meaning the U.S. is now within 8% of its pre-pandemic supply.

Current supply levels are also 17% above the August average since 2017.

And it’s possible by next year, that the U.S. Housing Market will hit above pre-pandemic supply

(it already is in the South and Western parts of U.S.)

Meaning no ‘housing shortage’ anymore.

There’s plenty of homes for sale in most markets.

They’re just too expensive.

Check updated inventory metrics for your city here: https://reventure.app/map?geo=county&datapoint=total_active_inventory&zoom=4&lnglat=%7B%22lng%22%3A-99.00000000000068%2C%22lat%22%3A40.00000000000048%7D

Home Depot just issued a major warning about the U.S. housing market. The company’s CFO says America is dealing with a “frozen housing market” as home buyer demand remains near historic lows.

And Home Depot isn’t the only company flashing warning signs.

Major home builders like Lennar and D.R. Horton have been dealing with a much weaker housing environment as buyers struggle with high prices and affordability. Housing starts are now dropping, home flipping activity is declining, and lumber prices have fallen roughly 10% over the last month as demand to build, renovate, and invest in homes weakens.

Home Depot’s U.S. same-store sales grew only 1.3% year-over-year, which is negative after adjusting for inflation. Lowe’s is also reporting weak growth and a muted outlook for home improvement. Meanwhile, pending home sales remain roughly 33% below the pre-pandemic norm, while home flipping profits fell to their lowest level since 2008.

When you put all of these signals together, the picture becomes clear: America is in a major housing recession.

And that could eventually become a problem for the broader economy. Housing accounts for roughly 15% of U.S. GDP. If home sales remain depressed, builders continue pulling back, lumber demand keeps falling, and consumers also begin reducing their spending, economic weakness could accelerate heading into 2027.

I’m also on the ground in St. Petersburg, Florida, showing what this downturn looks like at the street level. Some sellers are now listing homes for $50,000 or more below what they paid just a few years ago. Other sellers are still asking prices far above what their local market supports, creating opportunities for buyers who know where and how to negotiate.

In this video:
• Home Depot’s warning about the “frozen” housing market
• Why home buyer demand remains historically weak
• Weakness from major home builders like Lennar and D.R. Horton
• Housing starts dropping across the U.S.
• Lumber prices falling as construction demand weakens
• Home flipping profits hitting their lowest level since 2008
• Why weakness in housing could spread into the broader economy
• Florida sellers taking major losses
• Where housing demand is weakest across America
• How to determine whether a listing is overpriced
• The best time of year to buy a home in your ZIP code

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