The Number of Homes for Sale Is Increasing

The Number of Homes for Sale Is Increasing

The past couple of years have been challenging for homebuyers due to a shortage of available houses. However, the situation is starting to improve.

This year, the number of homes for sale has increased. According to the latest data from Realtor.com, in April 2024, there were more homes available than in the previous years (2021-2023). The graph below illustrates this trend:

Realtor.com reports:

“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 mean house hunting has become easier? The answer is both yes and no.

The latest weekly data from Calculated Risk indicates that despite recent growth, the number of homes for sale is still significantly lower than in the last normal year of the housing market:

What Does This Mean for You?

If you paused your home search because you couldn't find what you wanted, you might now see more options than in recent years, though the selection is still limited.

To explore your growing options, it’s wise to work with a local real estate agent you trust. Real estate heavily depends on location, and a knowledgeable agent can provide insights into the homes available in your desired area. As Bankrate advises:

“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 collaborate so you have someone who can keep you updated on the current home market trends and help you find the best opportunities available right now.

5-17-2024