If you're thinking about moving, it's important to know what's going on in the real estate market. So, here's an update on how many homes are currently up for sale. Whether you're buying or selling, the number of available homes in your area is pretty important. Check it out below.

What’s the Truth About Today’s Housing Inventory?

You know how everyone's been talking about how there's, like, a serious lack of homes available to buy? Hold onto your hats because the latest national data might throw you for a loop. According to Realtor.com, we’re seeing a little bit of an increase in inventory from month to month in a bunch of areas across the country. Yeah, I know, it's kind of surprising, right?

The housing supply in the nation grew by around 5% last month, as seen on the map.

Does That Mean the Days of Limited Inventory Are Over?

So, you might be wondering if we've finally solved the problem of a limited housing supply. Have we reached a point where there are enough houses for everyone? Well, the answer is not quite. But let me break it down for you. You may have heard news about an increase in available houses, and that's true to some extent. However, we can't ignore the bigger picture. Even with this increase, there are still far fewer houses on the market compared to what we would consider normal. So, there's still some work to be done before we can confidently say that the housing supply issue is fully resolved.

Take a look at this graph. It compares the number of homes currently available for sale (we call it "active listing counts") with the number of homes available in the housing market during the years 2017-2019, which we consider normal years.

““Housing market inventory is so far below pre-pandemic levels that October’s big jump is still just a drop in the bucket.””

— Lance Lambert, Founder, ResiClub Analytics

Well, it's important to keep in mind that real estate is all about the local scene. Working alongside a reliable real estate agent can really make a difference because they can help you get a clearer picture of what's happening with the available properties right in your own market.

If you're thinking about buying a home, you might have a few more choices now compared to the past few months. However, it's important to keep in mind that there's still a limited number of houses available. A really good agent can offer their knowledge and useful tips that have helped other buyers deal with the ongoing shortage of homes on the market.

Don't worry if you're thinking about selling your house! You still have a great chance to receive multiple offers or sell your house fast. Although the housing inventory has slightly increased across the country, it's still quite low, and it might be even lower in your specific area.

Bottom Line

If you're thinking about buying or selling a home, it would be great to get in touch. I'd love to chat with you about the current housing market and make sure you're aware of all the latest trends that could affect your upcoming move. It's important to stay informed, especially when it comes to today's housing supply. So, let's connect and get you up to date!