U.S. home listings rose 10% year-over-year in January, marking 27 months of growth, but the pace has slowed for nine months, hindering inventory recovery. Inventory remains 17% below 2017-2019 levels, keeping prices high with a median list price near $400,000. The West saw the largest inventory increase, led by Seattle, Charlotte, and Washington, DC. Factors like economic uncertainty and delisting slow new listings, while mortgage rates near 6% may boost spring sales if supply improves.