If youre thinking about buying a home, youre likely trying to juggle your needs, current mortgage rates, home prices, your schedule, and more to try to decide if you want to jump into the market. If this sounds like you, heres one key factor that could help you with your decision there are more homes for sale today than there were at this time last year.
The increase weve seen in housing supply this year isnt from the source you think it is. Rather than an influx of recent homeowners listing their houses for sale known as new listings, the primary reason the supply has grown is because homes are staying on the market a bit longer known as active listings.
What This Means for Your Home Search? Regardless of the source, the increase in available housing supply is good for buyers. More homes available for sale means you have more options to choose from as you search for your next home, and you may even have more time to consider them. So, if you tried to buy a home last year and lost out in a bidding war or just couldnt find something you liked, this may be the news youve been waiting for.
If you’re ready to jump into the housing market and see what’s available in our local area, let’s connect.