Buyers have been finding it challenging to come across available homes for sale in recent years. However, there's some good news on the horizon - the situation is beginning to improve.

Based on the most recent data from Realtor.com, it's clear that in 2024, there are more homes up for sale than we've seen in the last few years, from 2021 to 2023.

Does That Mean Finding a Home Is Easier?

The answer is yes, and no. As an article from Realtor.com says:

““There were nearly 15% more homes for sale in February than a year earlier . . . That alone could jolt the housing market a bit if more “For Sale” signs continue to appear. However, the nation is still suffering from a housing shortage even with all of that new inventory.”
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— Realtor.com

In the world of real estate, location is key. Think about it this way: With the increase in inventory we've seen in recent years, you're going to have a wider selection of homes to consider when you're on the hunt for your next place.

The graph above indicates that there are still far fewer homes for sale compared to what we would typically see in a more usual, pre-pandemic market. However, it's important to note that this shortage won't be resolved overnight.

What Does This Mean for You?

You may come across some additional choices compared to the past few years, but don't anticipate an overwhelming number of options available.

Absolutely! If you're looking to navigate the expanding range of options available to you, consider partnering with a trusted local real estate agent. They play a crucial role in giving you insights into the specific inventory dynamics of the area where you are looking to make a purchase. Real estate is inherently local, and an experienced agent can offer valuable tips and strategies that have assisted other buyers in coping with the challenges of a persistent shortage of housing supply in your desired location.

Bottom Line

If you're considering purchasing a home, why don't we work together? This way, you'll stay informed about any factors that might impact your relocation, such as the current number of homes available for sale.