May 19, 2024
The Number of Homes for Sale Is Increasing
There’s no denying that the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around. But things are starting to improve.
There are more homes up for grabs this year. The graph below uses the latest data from Realtor.com to show that in April 2024 there were more homes for sale than there were over the last few years (2021-2023):
As Realtor.com explains:
“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 does this growing inventory really make house hunting easier — yes and no.
Using the latest weekly data from Calculated Risk, the graph below shows that even with the recent inventory jump, there are still way fewer homes for sale than there were in the last normal housing market year:
How Does This Impact You?
If you’ve been looking to buy a home, but put your plans on hold because you just couldn’t find what you were searching for, you might see more options now than you did over the past few years – yet don’t expect a huge selection. However, do expect enduring inflated prices.
To assess your growing options, it’s generally best to work with a local real estate agent you trust. Real estate is all about location. An agent has the resources to ensure your quick access to all available homes for sale in your preferred areas. Bankrate explains:
“In today’s homebuying market, it’s more important than ever to find a real estate agent who really knows your local area — down to your specific neighborhood — and can help you successfully navigate its unique quirks.”
Bottom Line
Let’s connect and potentially team up to make certain you are in the loop for everything that might impact your move … especially how many homes are up for sale right now and how many new homes that meet your criteria are newly listed each day!