The housing inventory shortage that has been plaguing the U.S. for years appears to finally be easing, but a significant factor behind what is driving up supply provides little encouragement that the stagnant market will get moving again anytime soon.

A new report from Redfin says the number of homes for sale jumped to a four-year high in November, surging 12.1% year over year. But the major reason for the increase is that most homes on the market just aren’t selling. 

Redfin data shows housing supply hit a four-year high in November, but mostly because a majority of houses for sale have sat on the market for more than two months. ( Liu Guanguan/China News Service/VCG via Getty Images / Getty Images)

More than half (54.5%) of homes on the market last month had been listed for more than 60 days, with many deemed too expensive by would-be buyers. According to Redfin data, that is up 49.9% from a year ago, and is the highest share of stale inventory for a November since 2019.

The report said that the typical home that went under contract last month did so in 43 days, which is also the slowest November pace since 2019.

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“A lot of listings on the market are either stale or uninhabitable. There’s a lot of inventory, but it doesn’t feel like enough,” said Meme Loggins, a Redfin Premier real estate agent in Portland, Oregon. 

“I explain to sellers that their house will sit on the market if it’s not fairly priced,” Loggins said. “Homes that are priced well and in good condition are flying off the market in three to five days, but homes that are overpriced can sit for over three months.”

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The data shows Texas and Florida have the highest rates of old listings on the market. Miami has the greatest share of homes on the market for longer than 60 days than any other major metro at 63.8%, followed by Austin, which has 62.4% of listings that have sat for more than two months without going under contract.

The affordability crisis has led to the majority of the homes on the market sitting unsold for more than 60 days. (Fox News)

The housing market saw a flurry of activity driven by high demand during the pandemic, but has become stagnant as soaring home prices and mortgage rates have led to an ongoing affordability crisis that has pushed homeownership out of reach for many Americans.

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Housing costs repeatedly broke records in 2024, and a report from the National Association of Realtors’ (NAR) annual survey of buyers and sellers found the share of first-time homebuyers dropped from 32% in 2023 to 24% in 2024, the lowest share since NAR began collecting data in 1981.

FOX Business’ Lindsay Kornick contributed to this report.

Artificial trees have become a favored option for many families. 

Overall, an artificial tree requires a lot less maintenance and care than a real tree does. Additionally, the price of an artificial tree may be more expensive than a real one, but in the long run, it turns out to be more affordable. 

Artificial trees may not have quite as long a history as real Christmas trees, but they have been sold in stores for quite a long time. 

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The artificial tree dates back to Germany during the 19th century. They were first created using goose-feathers during the time period, according to Britannica. 

Sears, Roebuck & Company is credited by the National Christmas Tree Association as the first store to sell artificial trees. This started around 1883, according to the source. 

Artificial trees have a long history of being displayed as the centerpiece of Christmas in many households. (iStock / iStock)

At this time, consumers could pick up 33 limbs for $0.50 or 55 limbs for $1.00, according to the source. 

Sears was once the epicenter of all things Christmas. 

It was in 1933 when Sears issued their very first, very popular Christmas catalog, according to History.com, filled with all the hottest items of the year. 

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The 1933 catalog included products such as the “Miss Pigtails” doll, a Mickey Mouse watch and a five pound box of chocolates, according to the Sears Archives. 

The Sears Archives slightly differs on the exact date of when the first artificial trees were sold by the store, noting that the store “began selling Christmas stockings and artificial Christmas trees in 1910.”

Sears was the first store to begin selling artificial Christmas trees. (Jacek Boczarski/Anadolu Agency via Getty Images / Getty Images)

In 1968, the name of the catalog officially changed to the “Wish Book,” per the source. 

The 1960s saw other big box stores joining the scene, like Walmart and Target, with similar offerings to Sears. 

The catalog division of Sears shut down in 1993, according to History.com. 

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Today, artificial trees are sold by a variety of retailers, including Lowes, Walmart, Target and Home Depot. 

While the price of trees today far exceeds the cost when they were initially sold, they tend to be more affordable, in the long run, compared to real trees, since they can be reused year after year. 

Artificial trees fill store aisles during the holiday season. (Lindsey Nicholson/UCG/Universal Images Group via Getty Images / Getty Images)

The average cost of an artificial tree varies greatly. There are options as low as a few hundred dollars, and as high as over a thousand. 

One allure of the artificial tree is the overall convenience it provides. Some of them do not even need to be decorated, as they come with lights already draped around the tree. 

That said, many families still love the tradition of going to a local Christmas tree farm and picking out a tree to display in their home throughout the holiday season. Plus, the piney scent is one missing from a fake tree. 

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In 2024, 46% of people say that they plan on displaying an artificial tree in their home for the holidays, according to Statista. That’s compared to the 24% who plan on picking up a real tree.