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."
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.
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."
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.
Stay up to date on the latest real estate trends.
Rica's Heart
August 2024
Bay Area
Explore Costanoa: A Unique Eco-Adventure Resort on the California Coast
Bay Area
Indulge in Fresh Sushi Rolls and a Vibrant Atmosphere
Bay Area
Delicious Desserts, Exceptional Service, and Local Charm
Coaching
Rica's Heart
July is my birthday month
Senior / Older Adults
Financial Wisdom: A Key to Aging Gracefully
Real Estate
Making a Difference: The Value of Community-Minded Realtors
Rica's Heart
We are midway through 2024
You’ve got questions and we can’t wait to answer them.