If you’re looking to make a move, you want to be sure you have the latest information on the housing market. To help make that possible, here’s an update on the supply of homes for sale today. Whether you’re looking to buy or sell, the number of homes available in your local market matters to you. Take a look below.
What’s the Truth About Today’s Housing Inventory?
While the story for the past few years has been how few homes are on the market, recent national data may leave you feeling a bit confused. That’s because Realtor.com shows inventory is actually growing a bit month-over-month in many parts of the country.
As the map shows, nationally, housing supply increased just over 5% last month.
Does That Mean the Days of Limited Inventory Are Over?
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 that mean for you?
If you’re looking to buy, you may have slightly more options than you did in recent months, but you still need to brace for low inventory. A great agent will be able to share their expertise and key strategies that have helped other buyers navigate today’s ongoing low housing supply.
And, if you’re trying to sell, rest assured you haven’t missed your window of opportunity to potentially get multiple offers or see your house sell quickly. While inventory has ticked up some nationally, overall, it’s still low and may be down even more in your area.
If you’re looking to buy or sell a home, DM me so you can make sure you’re up to date on all the latest trends that could impact your move, including today’s housing supply.
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