Yes. Rates and the calendar do most of the work on supply. When rates rise, two things happen at once. Demand cools because fewer buyers can afford the payment, so homes sit longer and get absorbed more slowly. Meanwhile some owners who'd been on the fence decide to list rather than keep waiting. Slower absorption plus more new listings means active inventory builds. Season amplifies it. More homes come on the market every spring and summer regardless of conditions, so a rate-driven bump in listings lands on top of the normal seasonal rise, and inventory can climb noticeably in that window. The effect can also reverse. If rates came down, demand would pick back up, absorption would speed up, and inventory growth would slow. We can't promise where rates go from here. Keep the sizing straight, though: rising inventory reads as normalization far more often than collapse. More homes on the market gives buyers more choice and a bit more negotiating room. Watch your local months of supply to see how far the shift has actually gone in your area; that number beats any national supply headline.