If you’ve been feeling frustrated with the limited homes available in recent years, there’s some good news. You now have more choices, which means it might be the perfect time to start looking for a new home again. According to Daryl Fairweather, Chief Economist at Redfin:

“Now is the best time to buy in the last two years. Mortgage rates are comparable to what they were two years ago, and prices remain high. However, there is significantly more inventory . . .”
— Daryl Fairweather, Chief Economist at Redfin

The inventory of homes for sale has increased compared to last year, with even more options expected soon. This is a common trend during the busy spring season, but here's why it's particularly significant at this moment.

Homeowners are putting their houses on the market faster than we've seen in a long time.

New Listings Are on the Rise

In recent months, we've seen a steady increase in the number of new listings—homes that have just come onto the market for sale. Check out the graph below for more details.

More homeowners are listing their properties each month, whether they're looking to upgrade, downsize, or move to a new area. This trend is a good indication for the housing market.

Sellers who have been hesitant over the past few years are now starting to take action. This shift is increasing the overall inventory, which is creating better opportunities for both buyers and those looking to upgrade to a new home.

The number of new options has increased not only from last month but also compared to this time last year.

New listings in March were up 10.2% compared to last year, marking the highest number of new listings for that month since 2021, according to Realtor.com.

If you've been waiting for more options, this is what you've been looking for. With more homes entering the market, you'll have a wider selection and a better chance of finding a home that meets your needs.

To stay updated on the newest listings in your area, it's a good idea to rely on a local real estate agent.

Bottom Line

If you're considering a move this spring, now could be the perfect time to look into your options. With plenty of new listings appearing, there's a good chance you'll discover a home you really like just waiting for you.

What are the top features or neighborhoods you're hoping to find?