Why Are There No Homes for Sale? A Closer Look at Inventory in the Greater Scranton Market

If you’ve been keeping up with national real estate headlines, you might be wondering why your local experience doesn’t match the broader narrative. Headlines like “Housing Supply Is Surging” or “It’s No Longer a Seller’s Market” paint a picture that, at least in our area, feels disconnected from reality.

Yes, across Pennsylvania, active listings are reportedly up 9.1% year-over-year according to the latest data from the Pennsylvania Association of REALTORS®. But here in the Greater Scranton market, the dynamics tell a very different story—and it’s a perfect reminder of that familiar industry adage: all real estate is local.

In fact, the Times-Tribune highlighted this discrepancy in a recent June 2025 article, “Low Housing Inventory Keeps Sellers In Control Locally Amid National Shift.” Multiple brokers across the region echoed what many of us already know: inventory remains tight, new construction hasn’t kept up, and home prices continue to climb.

So, why does it still feel like there are no homes for sale?

Understanding the Inventory Story

To get clarity, we analyzed two important data points over the last ten years: absorption rate (the months’ supply of available homes) and active residential listing count. We reviewed both the seasonal highs and lows (June to the prior July) to better understand trends.

Two things become immediately clear:

1. The Pandemic Was an Accelerant, Not a Cause

While COVID-19 disrupted everything—including real estate—it didn’t start our inventory problem. It made it worse. The steady decline in listings began long before 2020. You’d have to look all the way back to 2014 to find a cycle when inventory was truly increasing.

2. We Haven’t Seen a Balanced Market Since 2019

A balanced market typically has 5–7 months of inventory. Our last brush with that was six years ago. Since then, it’s been a steady tilt toward sellers. In fact, the 2014–2015 market was more favorable to buyers than today’s market is to sellers.

Inventory by the Numbers

Let’s break it down using the two visuals below.

Absorption Rate for Residential Listings

This chart shows how many months it would take to sell all homes currently on the market at the current pace of sales. A lower number means less inventory:

• The high point in 2015-2016 was 13.42 months. The low? 10.16 months.

• As of 2024-2025, we’re looking at 3.03 months (high) and 2.33 months (low).

• The bottomed-out low was just 1.43 months in 2021-2022—a historic scarcity.

Active Residential Listing Count

This shows the actual number of homes available for sale at the seasonal high and low points each year:

• From a peak of 2,327 listings in 2015-2016, active listings dropped to just 612 in 2024-2025.

• The lowest low was 383 listings in 2021-2022.

• Current low: 484 listings, which is the highest low we’ve seen in almost five years—encouraging, but still far below what’s needed.

So… Is Inventory Improving?

Yes—but only slightly.

This past cycle (2023–2024) marked the first time in a decade we saw an increase in both high and low points for inventory. That’s a promising sign. But keep in mind: active listings are still less than half of what they were in 2019, and we’re just north of 40% of what a balanced market would require.

Looking Ahead

Barring a major shift—such as a surge in new construction or a dramatic cooling of prices—we’re likely to stay in a seller’s market for the foreseeable future. Demand remains strong, and interest rates, while higher than a few years ago, aren’t deterring many buyers.

Expect modest increases in inventory year-over-year, but not a return to balance. For now, the question of “why are there no homes for sale?” still applies—because by historical standards, there simply aren’t.

Need Local Insight? We’re Here to Help.

Navigating this market takes local expertise and a strategic approach—whether you’re buying, selling, or simply trying to understand what’s happening in your neighborhood. At Realty Network Group, our experienced team of real estate professionals is here to guide you every step of the way.