Are There Actually More Homes for Sale Right Now?

If you’re considering a relocation, it’s crucial to stay informed about the current state of the real estate market. To assist you in staying up-to-date, here’s a report on the current supply of homes available for sale. Whether you’re in the market to buy or sell, the quantity of homes in your local area is a significant factor for consideration. Read on for an overview.

What’s the Truth About Today’s Housing Inventory?

As the map shows, nationally, housing supply increased just over 5% last month.

Does That Mean the Days of Limited Inventory Are Over?

This might prompt the question: have we moved past the era of limited housing supply? In short, not quite. It’s crucial to consider the context. While you might come across headlines suggesting an increase in inventory, the data also reveals that there are still notably fewer homes for sale compared to what would be typical in a more standard market.

The graph provided below offers a comparison between the current counts of active listings (homes presently available for sale) and those from the most recent normal years in the housing market (2017-2019):

As Lance Lambert, Founder, ResiClub Analytics, explains:

“Housing market inventory is so far below pre-pandemic levels that October’s big jump is still just a drop in the bucket.”

What does this mean for you? Keep in mind that real estate dynamics are highly localized. Collaborating with a reliable real estate agent can provide you with valuable insights into the specific inventory conditions in your area.

For prospective buyers, there might be a slightly expanded array of options compared to recent months, but it’s important to prepare for a market with limited inventory. A skilled agent can share their expertise and effective strategies that have assisted other buyers in navigating the ongoing challenge of low housing supply.

For sellers, rest assured that the window of opportunity to potentially receive multiple offers or achieve a swift sale hasn’t closed. While there has been a modest increase in inventory on a national scale, the overall supply remains low and may even be further constrained in your local area.

Bottom Line

If you’re in the market to buy or sell a home, let’s connect to ensure you’re well-informed about the current trends that might influence your decision, including the present housing supply.