What Higher Inventory Means for Buyers
If you’ve been in the market to buy a home in the past few years, you’ve likely felt the frustration of limited options. Things are starting to look up!
This year, the number of homes available for purchase has seen a noticeable increase across the country. According to the latest data from Realtor.com, as of April, the inventory of homes for sale has grown substantially compared to the past few years:
Realtor.com highlights this encouraging trend:
“There were 30.4% more homes actively for sale on a typical day in April compared with the same time in 2023, marking the sixth consecutive month of annual inventory growth.”
But What Does This Mean for Your Home Search?
While it’s true that there are more homes on the market now, it doesn’t mean there’s an overflow of houses for buyers to choose from. Data from Calculated Risk shows that despite recent improvements, the number of homes available is still below what was considered normal in the pre-pandemic market:
So, if you’ve been waiting on the sidelines for more homes that fit your needs, your time has come! However, it’s helpful to set your expectations knowing that “more” inventory doesn’t mean unlimited options.
Finding the Right Home in a Changing Market
As the market begins to open up, now is an excellent time to reconnect with your local real estate agent. The value of a knowledgeable agent is immeasurable, especially in a transitional market. They can provide insights specific to your preferred locations, negotiate what matters most, and help you secure the best home for your needs. If you aren’t working with an agent yet, we are happy to recommend an outstanding professional to assist in your homebuying journey.
The increase in home listings is promising! While we’re not back to a fully stocked market, the current growth in inventory is a positive sign. If you’re ready to take advantage of the improving conditions, let’s team up. Together, we can explore the best financial options and ensure you’re well-positioned to make a move when the right home becomes available.
