What does this mean for you?
This increase in homes available for sale is good news for buyers. If you’re ready to buy and you’re having trouble finding a home, take comfort in knowing that more options are already coming to the market. The key is sticking with your search, working with your agent, and trusting the process.
While there are more homes on the market today, NAR reports that inventory sits at a 2.6-months’ supply at the current sales pace. For there to be enough homes on the market to meet buyer demand, that number would be 6.0 months of inventory – which is significantly higher than where we are today.
Even with the welcome rise in supply, it’s still a highly competitive market. Be ready to act immediately once you find the right home for you. Then, let’s work together so you can craft a strong offer based on today’s market conditions.