For anyone who has been looking to make a home purchase in the last handful of years it has certainly been a challenge. The lack of homes on the market for sale has made it difficult to find the right home and then actually get it by being the best offer. However, things are looking up these days as inventory is taking a turn.
There are more homes on the market this year per data shared by Realtor.com. If we look at the trends for each April for every year dating back to 2017 it is quite interesting. From 2017 to 2020 inventory was higher but then showed severe dips in 2021 and 2022. We saw increases in 2023 but 2024 showed much more on the market comparatively for an upward trend. The direction of positive growth of inventory is encouraging, but we are still not back to the levels seen during 2017-2020.
As Realtor.com explains: “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.”
If you have put your purchase plans on hold because of the void of selection then you might start seeing more options opening up these days.
Real estate is all about location and it is wise to make your connection with a real estate professional in the area of interest. An agent can help you get the story on the properties available in the area you are interested in. As Bankrate states: “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.”
Contact me today and let us know how we can help you with your real estate needs.
