Is It Easier To Find Your Next Home Now?

One of the biggest difficulties that a home buyer has faced over the past several years is a lack of homes on the market. This low amount of inventory has made it difficult to purchase a home, and even more difficult to find one that meets all of your wants and needs. Recently, however, we have been experiencing an uptick in inventory and are seeing signs that this may be a growing trend. Take a look at the graph below to see the progression of this increase:

As you can see, there has been a more than 15% increase in the number of homes for sale compared to last year. While this may not yet be enough to fully satisfy the demand of all buyers looking to move, it does offer a sizable improvement to the situation. 

One of the most significant advantages of a higher home inventory is the sheer number of options available to buyers. In a market with limited inventory, buyers often find themselves competing for a handful of properties, leading to bidding wars and inflated prices. However, with more homes on the market, buyers can take their time to explore different neighborhoods, property types, and price ranges.

Increased inventory also means greater diversity in housing stock. Buyers can now find a wider variety of homes, from starter condos to sprawling family houses and everything in between. This variety allows buyers to align their preferences with their budget more effectively, ultimately leading to greater satisfaction with their home purchase. The increased inventory is particularly beneficial for first-time buyers who may have been previously priced out of the market or struggled to find suitable homes. With more entry-level properties available, aspiring homeowners can enter the market with more confidence and a higher chance of finding a home that meets their needs.

If you are ready to start looking for your next home and take advantage of the increased inventory in the market, give our team a call! We would love to help assess your needs and find the perfect property for you. 

To learn more about the increase in housing inventory, take a look at this article from Keeping Current matters.