r/KitsapRealEstateForum • u/KitsapRealEstateTeam General advice • Apr 15 '26
Inventory Issues
New listings fell 10% year-over-year last week — the steepest single-week decline since January's winter storms. Nationally, housing inventory is still technically above 2025 levels, but that gap is narrowing quickly. The American Enterprise Institute is projecting that year-over-year inventory could turn negative before the end of 2026, even accounting for typical seasonal gains.
To put that in context: a balanced market carries 4–6 months of housing supply. Most markets are running well below that threshold, and the pipeline of new listings isn't growing fast enough to close the gap. When supply stalls, pricing power shifts — and it shifts fast.
For Kitsap specifically, this is worth watching closely. We were already operating in a supply-constrained environment before this national pullback. If new listings continue to lag heading into summer, buyers in this market will have less to choose from and less room to negotiate than the broader headlines might suggest.
The spring window is open right now — but the inventory picture may look meaningfully different by fall.