More Homes, More Choices
The number of homes for sale has risen significantly over the past year. According to Realtor.com, the number of active listings in October increased by 29.2% compared to last year, marking the highest inventory count since late 2019.
What does this mean for buyers?
- More options to choose from: You’ll have a greater chance of finding a home that fits your needs.
- Less pressure to act quickly: With more homes on the market, there’s less competition, allowing you to take your time with decisions.
As Realtor.com’s Hannah Jones explains, “Though still lower than pre-pandemic levels, burgeoning home supply means buyers have more options.”
Slower Price Growth, Better Affordability
In the competitive market of recent years, low inventory drove prices up rapidly. However, as inventory levels improve, price growth has started to slow. Some markets are even seeing prices decline from their 2022 peaks.
- Improved affordability: With prices stabilizing, you may find homes within your budget more easily.
- Market variation: Inventory and pricing trends differ across regions, so some areas may present more favorable opportunities than others.
Lance Lambert, Co-Founder of ResiClub, shares that housing markets with inventory returning to pre-pandemic levels have seen “home price growth soften or even decline outright.”
Why Local Expertise Matters
While these trends are promising, housing markets can vary widely by location. Some areas may still experience higher competition or price growth, depending on supply and demand.
This is where partnering with a knowledgeable real estate agent makes a difference. A local expert can:
- Help you understand market trends in your area.
- Identify the best opportunities for your needs and budget.
- Guide you through the buying process with confidence.
Bottom Line
The growing number of homes on the market and slower price growth are creating a more favorable environment for buyers. If you’ve been waiting for the right moment to make your move, now could be the perfect time.
Connect with Influencers Realty Group today to explore your options and find the home that’s right for you. Let’s make your home-buying journey a success!
