According to a recent survey, one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today.
If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.
Early Signs Inventory May Be Growing
The recent data shows the number of listings coming onto the market, known in the industry as “new listings,” has increased since the start of the year. This indicates more sellers are listing their homes for sale each month this year. And this growth is expected to continue. Majority of potential sellers plan to list their homes over the next six months. The markets may see a noticeable bump in the number of homes for sale as we move through summer and into fall. A majority of homeowners planning to sell this year indicated that they aim to list in the next six months, with almost 20% having already placed their properties on the market.
Homes Are Still Selling Quickly
But while new listings are increasing, it’s important to know they’re also selling quickly. While homes are taking a little longer to sell most homes are still selling in less than 14 days.
What That Means for You
While a low-inventory market is difficult to navigate as a buyer, there is hope. The growing number of new listings and the expectation more sellers will list their homes in the coming months is great news if you’ve had a hard time finding a home that fits your needs. Just remember, those new listings are going fast. That means you’ll want to keep your foot on the gas and be ready to act if you find a home you love this season.
I can help you stay on top of the latest listings in your area so you can find the home that’s right for you and submit your strongest offer as quickly as possible.
If you’ve been having a hard time finding your dream home, stick with your search. More options are coming to market and your ideal home could be one of them. Partner with me a professional in the market to stay up to date on the latest listings, so you can be ready to move fast when you find the one that’s right for you.