If you're considering a move, it's crucial to stay informed about the housing market. Let me give you the latest info on the homes available for sale. Whether you're looking to buy or sell, keeping an eye on the number of homes in your area is really important.

So, in the real estate world, we've got these predictable patterns that happen each year, which we call seasonality. Basically, spring is the top time for buying and selling homes – that's when there are the most homes up for sale (we call them new listings). But as we move into the later part of the year, the number of new listings drops because things tend to slow down a bit.

Hey, check out the graph below using data from Realtor.com. It gives a visual of the seasonal trends and how this year (the black line) is straying from the usual pattern. It's pretty interesting, take a look!

So, when you check out this graph, it's obvious that three things really stand out.

• 2017-2019 (the blue and gray lines) follow the same general pattern. Oh, the housing market in those years just followed the usual patterns you'd expect to see each season. The graphs pretty much mirror what's typical for that time.

• Starting in 2020, the data broke from the normal trend. Wow, so in 2020, when the pandemic hit, there was a big drop (the orange line) because a lot of sellers put their moving plans on hold. Then in 2021 (the green line) and 2022 (the red line), things started to get back to normal, but there were still some unusual things happening.

• This year (the black line) is truly unique. Usually, we expect to see a big decline in new property listings around this time, but that hasn't been the case this year. In fact, instead of dropping sharply like it typically does, the number of new listings has actually leveled off. And get this – there are even more new listings hitting the market this year compared to the same time last year!

What Does This Mean for You?

• For buyers, what's really great news is that we're seeing new listings stabilizing, and that's a positive sign. Basically, it means that there's a more steady flow of new options hitting the market, which gives you a lot more choices for your next home compared to what you had this time last year. That's awesome because it opens up a whole range of possibilities and lets you check out a variety of homes that could be just what you're looking for.

• For sellers, it's really interesting - we're seeing some new listings pop up at unusual times for the season, which is pretty cool. But here's the thing - even with these new listings, the overall inventory is still way lower than it was before everything that happened with the pandemic. If you take a look at the graph, you'll notice that the black line representing this year's inventory is still below the normal levels. This means that there's not a huge increase in the number of homes for sale, and prices aren't set to plummet anytime soon. Plus, with fewer sellers competing in the market compared to a typical year, your home has a better shot at getting some real attention from eager buyers.

Bottom Line

Whether you're itching to find your dream home or considering selling yours, it looks like the timing couldn't be better. If you've got any worries or queries about the housing options in our area, feel free to reach out. Let's chat!