Housing Market Trends: More Homes Available, But Still Below Pre-Pandemic Levels

Increasing Inventory: A Glimmer of Hope for Homebuyers

The last few years have been tough for homebuyers due to a severe shortage of available homes. However, things are starting to improve. According to the latest data from Realtor.com, the number of homes for sale in April 2024 has increased compared to the previous few years (2021-2023).

Realtor.com states:

"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."

Challenges Remain Despite Growing Inventory

While the increase in inventory is promising, it doesn't entirely solve the problem. The latest weekly data from Calculated Risk shows that even with recent growth, the number of homes for sale is still significantly lower than in 2019, the last normal year in the housing market.

What Does This Mean for You?

If you've been holding off on buying a home due to the limited options, you might find more opportunities now compared to the last few years. However, don't expect an abundance of choices.

To navigate this evolving market, it's crucial to work with a trusted local real estate agent. An agent can provide valuable insights into the homes available in your desired area. Bankrate advises:

"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."

Bottom Line

Partnering with a knowledgeable real estate agent will ensure you stay informed about the latest housing market trends and available properties. Together, we can navigate the current market and find the right home for you.