Two major factors are contributing to the rise in home sales.
Are you looking to buy a home? Now may be the perfect time. There are more homes for sale today than at any time last year. If you tried buying in the past and were outbid or out-priced, your opportunity for success is here. The number of homes for sale in the U.S. has grown over the last four months as rising mortgage rates slowed the frenzied housing market from the pandemic.
Two factors contributed to this rise in inventory. First, the number of sales happening each month has decreased. This slowdown was caused by rising mortgage rates and higher home prices, which led many to postpone or put off buying. The graph at 0:51 in the video above, using data from realtor.com, shows how active real estate listings have risen over the past four months.
“If you were outbid on your dream home last year, now is the time to act.“
The second reason inventory is on the rise is because the number of people selling their homes is increasing. The graph at 1:07 in the video above outlines new monthly listings coming onto the market compared to last year. For the past three months, more people have put their homes up for sale than the previous year.
Here’s the bottom line: The number of homes for sale across the country is growing, and that means more options for those thinking about buying. If you were outbid or priced out of your dream home last year, this is the opportunity you’ve been waiting for. Don’t let it pass you by!
If you have any questions about buying or selling your home, don’t hesitate to call me or send an email. I’m happy to help.