Glut
Etymology
From Middle English glotten or glutten, probably from Old French gloutir, "to swallow," from Latin gluttire, "to gulp down" (a relative of "glutton"). The gulping image links the word to swallowing more than one can hold. In economics a glut is the mirror image of a shortage: supply that has overwhelmed demand.
noun · /GLUT/
An oversupply of something, so much that its value or usefulness drops.
What it names
Excess in the market or the world — more of a good than can be sold, used, or absorbed, typically depressing its worth.
Example
A glut of new apartments finally pushed rents down across the whole district.
Related idea
Surfeit usually describes personal overindulgence and the discomfort it brings; glut describes an impersonal market oversupply and its effect on price.