Housing supply is rising in the US: The total number of homes for sale jumped 17% year-over-year in April, to 1.9 million, the highest since March 2020. Since July 2023, active listings have risen by 493,846 homes, or 34%, according to Redfin. New listings increased 9%, to their highest since July 2022, posting the largest annual gain since May 2024. Americans are increasingly selling their homes and downsizing due to concerns about the economy. Additionally, the mortgage rate “lock-in effect” is easing as many homeowners who locked in ultra-low rates during the pandemic are giving up on waiting for lower interest rates. Are home price cuts coming?